2016-04-01
The Benitez family and the STI Group have announced
that they have settled their differences through a dacion en pago arrangement
of certain assets of Unlad Resources Development Corporation (âUnladâ).
The family, through Unlad, transferred its Quezon
City and Davao properties to STI. Under the terms of the agreement, the Jose
Abad Santos Memorial School (âJASMSâ) will remain on the Quezon City campus
along EDSA until the end of school year 2017 after which it will be moved to a
new location.
Philippine Womenâs University (âPWUâ) will retain
its Manila campuses on Taft Avenue and Indiana Street in Manila.
At the same time, STI representatives will resign
from PWU, which will remain under the control of the Benitez family.
PWU President Dr. Francisco B. Benitez heralded the
settlement as âa mandate to rebuild PWU and JASMS while remaining true to the
educational legacy of our founders.â
He also disclosed that talks are underway to open
new campuses outside Metro Manila in time for PWUâs centennial celebration in
2019.
###
