The garnishment order on LBC Express Holdings, Inc.’s assets has been lifted following a Php 1.8 billion collection case filed by the PDIC. The PSE revealed that it received a notice of lifting of levy/attachment, in a memorandum issued last Monday. This past January the PSE received a garnishment order of listed LBC Express Holdings.
The order covered “all goods, effects, stocks, interests in stocks and shares, and any other personal properties of the defendants in the possession of the exchange or under the Exchange’s control sufficient to cover the amount of Php 1,824,696,444.” In the same order, the PSE was also instructed “not to deliver, transfer, or otherwise dispose of such property to any person or entity other than the Deputy Sheriff of RTC Makati Branch 143.”
