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Actor, company sued over P3.6-M debt

By Julie M. Aurelio
Philippine Daily Inquirer
First Posted 05:45:00 09/07/2010

Filed Under: Printing, Legal issues, Newspaper & Magazines, Entertainment (general), Celebrities

MANILA, Philippines?A printing firm has asked the court to order actor Diether Ocampo, his partner and a publishing company to settle their alleged unpaid balance of P3.6 million in connection with the publication of a men?s magazine.

In a three-page complaint, Velprint Corp. general manager Leonardo Uy said Ocampo, his partner Neil Angelo Romero and 5 Leaf Publishing Corp. hired the company to print UNO magazine from June to December 2009 for P4.1 million.

He added that 5 Leaf issued several postdated checks to cover the amount but as of July 22 this year, only P490,000 had been paid.

Uy said some of the checks were dishonored by the bank because the account they were being drawn against did not have enough funds. He stated that Velprint repeatedly tried to collect from 5 Leaf but its demands were ignored.

Uy said Ocampo and Romero were included in the complaint even though the contract was between Velprint and 5 Leaf because the two were the ?accommodation parties? of the publishing firm.

On the Internet, an accommodation party is defined as one who signs a commercial paper for the purpose of lending his name and credit to another party to help it obtain a loan or an extension of credit.

Velprint?s complaint was raffled off last week to Judge Bayani Vargas of the Quezon City Regional Trial Court Branch 219.

Reached for comment, Ocampo, through his manager Thess Gubi, told the Inquirer that he had already divested himself of his shares in 5 Leaf.

?It?s best that they get in touch with 5 Leaf?s management to address the issue. I have asked my lawyers to look into it to make sure everything?s okay,? he said in a text message.



Copyright 2012 Philippine Daily Inquirer. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.



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