#now corp

The Court of Appeals has dismissed Now Telecom's petition which sought to overturn a Manila Regional Trial Court's decision denying its application to join the bidding for a radio frequency as a new major player (NMP). Now Telecom, however, challenged the fees required for prospective bidders, which includes a PHP 700 million participation security fee, a PHP 14-billion to PHP 24-billion performance security, and a PHP 10-million non-refundable appeal fee, saying that it was excessive and confiscatory, and brought its case to the RTC in Manila. The RTC dismissed the suit, saying that Now Telecom has no clear or vested right on the part of radio frequencies it sought to acquire. Now Telecom contested the RTC ruling to the Court of Appeals. In a report by the Business World, Now Corp. said on Monday, June 7, that the CA's decision on Now Telecom's petition is still subject to remedies. has been advised that NOW Telecom (Co., Inc.) has yet to receive the alleged Court of Appeals decision. Thus, it is still subject to NOW Telecom’s legal remedies and therefore, not yet final,” said the company's statement sent to the PSE. Read more in our articles including "Now Telecom's radio frequency petition dismissed by CA" and "NOW Corporation launches 2.4Gbps Fixed Wireless Access, upgrades equipment capacity to 400%".