Saturday, December 6, 2014

The Legal Battle Will End Soon, How Soon?

The long-running battle between the Bases Conversion and Development Authority (BCDA) and CJH Development Corp. led by businessman Robert John SobrepeƱa continued as of this day while waiting for its final decision from arbitration committee soon.

Before, BCDA celebrated a legal victory after the Court of Appeals overturned a pro-SobrepeƱa decision of the Baguio Regional Trial Court in 2012, which issued an injunction against the BCDA’s move to eject the businessman.

The developers of Camp John Hay in Baguio City had warned the Bases Conversion and Development Authority (BCDA) from forcibly taking over the area pending the resolution of their case with the Court of Appeals (CA).

The BCDA has been misleading locators and shareholders when it issued a Notice to Investors on Nov. 1, claiming the Court of Appeals (CA) had lifted the injunction against BCDA, making it appear the private developers are no longer in charge. But the writ of preliminary injunction issued by the Baguio regional trial court (RTC) against the BCDA remains in effect while the decision of the CA is not yet final.

The Bases Conversion and Development Authority (BCDA) will observe and respect the legal process and restrain itself from any attempt of an illegal takeover of the camp. Any such attempt is clearly illegal and criminal. Any act toward this, whether verbal or physical, only shows a lack of observance and total disregard for due process and the rule of law, the consequence of which shall be harmful and prejudicial to the well-being and safety of locators, buyers, investors and visitors in the camp.

BCDA’s assertions of the CA to CJH DevCorp could prove to be the starting point of chaos in the management and operations of the camp. How much more when the final decision favor to them? What will happen then?

CJHDevCo operations were adversely affected, resulting in losses of P1.445 billion, which was increasing daily and has accumulated lease payment arrears to the BCDA in the staggering amount which belongs to the people of Baguio and the surrounding municipalities. And, the new event could still give them negative image through this CA but CJHDev Corp will not give to BCDA unless the final ruling will be served.

The BCDA wanted the management and operation of Camp John Hay by all means even though rough tactics and propaganda are well-planned. For CJHDeevCo owes to BCDA 3 billion pesos in which 800 million pesos will go to Baguio City fund for the management of rent to private developer. Since 1996 the payment made was only 425 million pesos given by Bob Sobrepena to BCDA.

Acting Director of SEC, Ferdinand Sales informed Bob Sobrepena that the SEC is constrained to require the submission of the latest due financial statement not only because for complaints from the public, but also due to the fact that CJHDevCo have continuously failed to submit reports for more than five continuous years. Failure to submit its reports for more than five years is sufficient ground to revoke the corporation’s certificate of registration as provided under existing laws and regulations on reportorial requirements.

The SEC is the authorized financial organization who regulates business corporations in the Philippines. It embodied to punish business organizations who practice negative system.

1 comment:

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