COLA/BEP UPDATE

[Admin-apcjr]

Court of Appeals affirmed RTC decision on Batch 1 petitioners for claim on COLA-BEP with modification on October 11, 2010. However, LBP filed for Memorandum for Consideration and the case was elevated to the Supreme Court.

According Atty. Norberto Martinez-COLA Lawyer, the only way for interested employees to join as petitioners is through intervention in the case of Batch 2 which is still pending with the RTC.

However, the COLA lawyers are asking for a fee of P1,000 for legal expenses and a contingency fee of 30%. The contingency fee will be deducted only if the case will win in court. LBPEA are still requesting the COLA lawyers to lower the contingency fee.

LBPEA NEB has not yet come to a consensus about intervention - this we will be taken up on their november meeting.