Thursday, July 11, 2013

COCKTALES | PCSO names PNoy campaign funder to arbitrate lotto case of Cojuangco in-law


COCKTALES | PCSO names PNoy campaign funder to arbitrate lotto case of Cojuangco in-law
By: Victor C. Agustin
June 17, 2013 12:20 PM

The Philippine Charity Sweepstakes Office has appointed one of President Aquino's biggest campaign contributors to arbitrate with a gaming concern chaired by a Cojuangco in-law, also a PNoy campaign contributor, over a disputed wireless lotto betting contract.

Cory Aquino-era environment secretary Fulgencio Factoran Jr. has been named by PCSO chairman Margarita Juico as arbitrator in its dispute with DFNN, a listed technology company chaired by Antonio Lopa, whose late brother Ricardo was married to the late sister of Cory Aquino, Teresita Cojuangco.

Factoran's appointment, DFNN told the Philippine Stock Exchange Friday, came after the Court of Appeals upheld DFNN's case last March to force PCSO to settle their contractual dispute via arbitration.

DFNN and PCSO signed a lease agreement way back in 2003 wherein DFNN would lease to PCSO computer and software equipment that would enable customers anywhere to place lotto bets on mobile phones.

The project never took off, after the two gaming concessionaires in Luzon and Visayas-Mindanao protested the DFNN-inspired revenue-sharing arrangement, claiming the DFNN deal would infringe on the exclusive online gaming franchises the PCSO had earlier awarded them.

<a href="http://www.interaksyon.com/business/64236/cocktales--pcso-names-pnoy-campaign-funder-to-arbitrate-lotto-case-of-cojuangco-in-law" target="_blank">Read More</a>
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