"Willie has no right to invalidate his ABS-CBN contract." - ABS-CBN Press Release

Only few hours after Willie Revillame announced that he is officially terminating his ABS-CBN contract (read related article HERE), the Kapamilya network immediately released an official statement saying he can't do that.

Here is the official statement sent by ABS-CBN:

We take note of Willie Revillame's pronouncements in his press conference today.

Willie is bound to ABS-CBN by a contract until September 2011. He violated the behavioral provisions of his contract when he threatened the ABS-CBN management during the May 4, 2010 episode of Wowowee, with a resignation if management does not fire another artist of the network. His behavior was generally seen as a display of disrespect and arrogance, completely unacceptable to the Filipino public.

As the one who violated his contract, Willie has no right to have it unilaterally invalidated. Contracts are binding agreements that must be respected by the contracting parties involved. The one who violates the contract cannot be allowed to dictate whether it should continue or end. Otherwise, contracts will have no value and may be terminated based on whim.

ABS-CBN is the aggrieved party, and as such, is the only one that can decide to end the agreement.

Despite all that had happened, ABS-CBN was willing to continue with the contract. Willie however, refused to take responsibility for his actions.

ABS-CBN wishes to reiterate that it will hold Willie to his obligations under the contract which expires September 2011.