CDA sues DPW’s Atalig over unpaid loan
The Commonwealth Development Authority has filed a lawsuit against Public Works public information officer Felipe Q. Atalig over nonpayment of a loan.
The CDA sued Atalig before the Superior Court in his individual capacity and as business owner of Casa De Felipe.
CDA lawyer F. Matthew Smith said that Atalig’s unpaid obligation now amounts to some $26,684.03, inclusive of the principal amount of $23,135.25.
The alleged obligation stemmed from a $25,000-loan obtained by Atalig from the CDA in April 2001. To secure the loan, Smith said Atalig mortgaged three parcels of land in Ginalayan, Rota. The aggregate area of the lots is 2,700-sqm.
Besides land, Atalig also mortgaged certain tangible goods and offered his company’s receivables and inventory as security.
The CDA claimed that Atalig defaulted on the loan by failing to pay the agreed monthly installments that were set from May 2001 to April 2005.
Smith said Atalig failed to settle the loan despite demand by the CDA, which served the official a notice of default last April 1, 2003.
The lawyer asked the court to foreclose the mortgaged land and seize the mortgaged tangible property, so they could be auctioned to satisfy a possible favorable judgment for the CDA.
