CEDA gets lifeline to recover its assets

The agency that has been struggling through the years to recover some of its money from borrowers is seeking to recover P1 326 653.62 from Shikas Express to no avail and having suffered at the High Court when the matter was dismissed.

The Court of Appeal (CoA) has reinstated the matter and taken it back to the High Court for continuation. This is after CEDA had made an application appealing the decision of the High Court that was handed on October 9, 2019 dismissing the agency’s application for rescission.The rescission application was against an order of dismissal for want of prosecution under the order of the High Court rules after the Court concluded that either party had taken no steps for six months or more regarding the matter.