FIRST Pacific managing director Manuel Pangilinan has a lot more to contend with than earnings eroded by regional currency devaluation or rumours the Hong Kong-based conglomerate is either taking over San Miguel or selling its Dutch unit Hagemeyer.
He also has to get his money back on a car.
Last week, Mr Pangilinan took out a writ against Ghiaspeed Motors Centre, who he is suing to retrieve an $800,000 deposit, made between March and May.
A First Pacific spokesman said that in March Mr Pangilinan put the deposit down on a white Mercedes Benz 600 1997 model, which the dealer was supposed to ship to Manila 'as soon as possible'.
'The dealer was supposed to deliver it as soon as possible, but was unable to because they lacked the proper certification for it,' the spokesman said. The car was valued at $930,000, with a $30,000 handling charge bringing its final price to $960,000.