The Commonwealth Ports Authority settled its dispute with Rota Terminal and Transfer Co. Inc. for the company\u2019s nearly $500,000 arrears to the agency and entered into a new agreement that allows the firm to pay its debt in five years.<\/p>\n
CPA executive director Efrain F. Camacho also disclosed the cancellation of the eviction order issued to the Rota company in February and March.<\/p>\n
Camacho said the company, partly-owned by Rep. Victor Hocog, asked for consideration following the eviction notice that was supposed to take effect March 13.<\/p>\n
\u201cWe were able to settle the issue and reached an agreement with the company. CPA is now allowing the firm to continue to operate its stevedoring operation on Rota, provided they pay all arrears and balances in five years\u2019 time\u2026and they agreed,\u201d he said.<\/p>\n
Besides the promissory note, Camacho said RT&T also promised to keep paying its monthly lease, which will give CPA a combined payment of about $3,000 from the company.<\/p>\n
CPA earlier terminated the firm\u2019s lease agreement and ordered it to vacate the property by March 13 after it failed to settle over $400,702 arrears as of November 2008.<\/p>\n
RT&T signed the lease agreement with CPA in January 1996. <\/p>\n
Camacho said among the considerations for the decision is the risk of losing the only stevedoring company on Rota.<\/p>\n
\u201cWe\u2019re not sure if there is any other party that would be able to step in, especially on a very short notice. We\u2019re convinced that CPA\u2019s decision is for the welfare of all parties,\u201d the executive director said.<\/p>\n
Camacho disclosed that during a meeting with the company\u2019s officials, the \u201csignificant\u201d drop in cargo volume was discussed. \u201cWe looked at all these considerations,\u201d he said.<\/p>\n
Camacho said CPA would make sure that the new agreement is not \u201cignored\u201d by the party, as what has been noted in the past when RT&T did not make any payment to the agency.<\/p>\n
CPA, in its attempt to generate revenues and collection this fiscal year, is running after delinquent tenants and concessionaires who have been in \u201cdefault\u201d for many years.<\/p>\n","protected":false},"excerpt":{"rendered":"
The Commonwealth Ports Authority settled its dispute with Rota Terminal and Transfer Co. Inc. for the company\u2019s nearly $500,000 arrears to the agency and entered into a new agreement that allows the firm to pay its debt in five years.<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-131570","post","type-post","status-publish","format-standard","hentry","category-local-news"],"_links":{"self":[{"href":"https:\/\/www.saipantribune.com\/index.php\/wp-json\/wp\/v2\/posts\/131570","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.saipantribune.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.saipantribune.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.saipantribune.com\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.saipantribune.com\/index.php\/wp-json\/wp\/v2\/comments?post=131570"}],"version-history":[{"count":0,"href":"https:\/\/www.saipantribune.com\/index.php\/wp-json\/wp\/v2\/posts\/131570\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.saipantribune.com\/index.php\/wp-json\/wp\/v2\/media?parent=131570"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.saipantribune.com\/index.php\/wp-json\/wp\/v2\/categories?post=131570"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.saipantribune.com\/index.php\/wp-json\/wp\/v2\/tags?post=131570"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}