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PHILIPPINE LAWS, STATUTES & CODES
A collection of Philippine laws, statutes and codes not included or cited in the main indices of the Chan Robles Virtual Law Library.
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ADMINISTRATIVE ORDERS
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ADMINISTRATIVE ORDER NO. 278 -
DISPOSAL OF TWO (2) 501-F TURBINES AS PART OF THE PROCEEDS FROM THE
WESTINGHOUSE SETTLEMENT RELATIVE TO CIVIL ACTION NO. 88-5150 DRD AND
ARBITRATION CASE NO. 6401/BGD
WHEREAS, the Presidential Committee on the
Bataan Nuclear Power Plant (BNPP), created under Executive Order No.
315 dated 04 January 1988, as amended, to oversee, supervise and
coordinate all legal claims and options, loans and financial
obligations and maintenance and preservation, including the disposition
or liquidation of all assets relating to the BNPP, has fully
implemented all legal claims and actions relating to BNPP;
WHEREAS, on 13 October 1995, a
Settlement Agreement was executed by and among Westinghouse Electric
Corporation, Westinghouse Electric S.A., Westinghouse International
Projects Company (together referred to as "Westinghouse"), Burns and
Roe Enterprises, Inc. ("Burns & Roe"), the Republic of the
Philippines and National Power Corporation ("NPC"), which together
shall sometimes be referred to as the "Republic", relative to the
lawsuits filed in the United States District Court of New Jersey (Civil
Action No. 88-5150 DRD) and before the International Chamber of
Commerce (Arbitration Case No. 6401/BGD);
WHEREAS, pursuant to the
Settlement Agreement entered into by and among Westinghouse, Burns
& Roe and the Republic, Westinghouse offered to the Republic a
settlement consisting of two (2) units of 501-F Gas Turbines, 100 MW
each, and US$40.3 million in cash, the latter of which has been
received by the National Government;
WHEREAS, following the
settlement by Westinghouse and Burns and Roe to the Republic, the
Republic irrevocably, fully and forever releases, discharges, waives
and renounces any all claims against Westinghouse arising out of the
lawsuits filed in the United States District Court of New Jersey (Civil
Action No. 88-5150 DRD), and before the International Chamber of
Commerce (Arbitration Case No. 6401/BGD);
WHEREAS, by virtue of Sec. 2
Executive Order No. 55, the National Government, as guarantor of
the foreign loans contracted by the National Power Corporation
(NPC) to finance the construction of BNPP Plant, assumed all the
remaining foreign obligations, including but not limited to interest
charges, with the foreign lenders, thereby transferring the
corresponding obligations from NPC. Likewise, the National Government
assumed all the peso obligations incurred by NPC to finance the
construction of the BNPP.
NOW, THEREFORE, I, FIDEL V.
RAMOS, President of the Philippines, by virtue of the power vested in
me by law, do hereby order:
Section 1.
Sec. 2.
Sec. 3.
Sec. 4.
Sec. 5.
DONE in the
City of Manila, the 1st day of July in the year of Our Lord, Nineteen
Hundred and Ninety-Six.
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