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Manila Bulletin devider Philippines devider Luzon devider Cebu-based real estate firm seeks court injunction vs foreclosure

Cebu-based real estate firm seeks court injunction vs foreclosure

Published Dec 11, 2024 11:55 am

CEBU CITY – A Cebu-based real estate giant has sought a court injunction to stop a contractor’s initial step of foreclosing an integrated beachfront condominium project in a coastal village in Lapu-Lapu City, Cebu.

In a 15-page Petition for Permanent Injunction, the Cebu Landmasters Inc. (CLI) is asking the Regional Trial Court Branch 7 of Cebu City to issue a 72-hour Temporary Restraining Order (TRO) to enjoin its contractor Devlarn Ventures and Development Corp. from executing a notarial foreclosure of its properties.

In its petition, the developer alleged that it took over the construction work of Costa Mira Beach Town Residences over Devlarn’s alleged delays in the construction of the condominium project.

Court records show that after taking over the Costa Mira construction work, CLI received a letter dated March 11, 2024 from the lawyers of Devlarn notifying that it intends to enforce a statutory lien on the titles of the land where the exclusive beachfront community project is constructed.

The lawyers of the contractor invoked Article 2242 of the Civil Code which provides in the third paragraph claims of contractors engaged in the construction of buildings or other works who shall be preferred with respect to a specific building or other immovable property constructed over unpaid labor or materials.

The construction company’s claims extend up to the buildings, immovable, and condominium titles of Costa Mira.

The developer also asked the court to restrain the contractor from annotating lien and notice of adverse claim on the title of the land where condominium project is constructed as well as on the condominium titles.

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Lapu-Lapu City Cebu Landmasters Inc.
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