Tuesday, February 24, 2015

A Winner Statement From CJHDevCo #OnlineBizniz

Just wondering what will be the outcome of the legal battle between the Bases Conversion and Development Authority (BCDA) against Camp John Hay Development Corporation (CJH Dev Co), after the Arbitration Tribunal released the decisions?

The BCDA who was expecting to win the legal case turned out to be the loser? I can imagine the crumpled face of Mr. Arnel Casanova who never hesitated to spread the word against Mr. Bob Sobrepena? That he filed an estafa case just to show to the whole world, that he’s in every angle of the case?

What will be his options when CJHDevCo would immediately demand the payment for them and the government has a fund for this settlement?

In the Award, the BCDA was ordered to return to CJHDevCo approximately Php1.42 Billion in rentals that it had paid to the BCDA. In turn, CJHDevCo was directed to vacate the Leased Property and turn it over to the BCDA with all improvements that CJHDevCO had introduced therein during the term of the lease. BCDA was found to be in breach and CJHDevCo was absolved of liability for the supposed Php3.3 Billion in back rentals that the BCDA had claimed against CJHDevCo.

Financial difficulties for the 2015 budget were never ran out and only starting to rise month-by-month. Every angle of project development done under Pnoy Administration was very encouraging but needs financial budget all along. DAP was abolished which made them hard to be approved by the Senate.

If BCDA cannot fulfill the payment of 1.42B pesos to CJHDevCo, it means that Camp John Hay’s still under the management of CJHDevCo which for sure is very happy for the outcome. What do you think?

CJHDevCo made an early announcement about the safety net that binds them and the stakeholders inside the camp. It looks that BCDA lost with this legal battle and cannot find a permanent solution in the long run. Their silence at present makes them aware of the consequences and thinking options to alleviate the situation.

Another point to ponder by the Bases Conversion and Development Authority (BCDA) is the pine trees inside the camp. As what CJHDevCo had stated, “We are happy with the decision and we are awaiting our lawyers’ advice on its implementation. It has always been our position that the trees in John Hay are the Camp’s most treasured assets. The pine trees are what Camp John Hay unique among other destinations. The presence of these trees posed the greatest challenge to our development plans as we believed these trees should not be cut. As a result, in our resolve to not cut the trees, our development footprint had been substantially reduced and so we had prayed to the Arbitral Panel that the lease contract with BCDA be reformed to reflect a reduced developable footprint and if this were not possible, then a rescission of the lease contract with damages paid to us, instead. Of course, this is another setback for BCDA to fulfill after the payment of 1.42B pesos.

Therefore, CJHDevCo’s final statement were totally sealed, “We trust that, even with the issuance of the Award, the parties will act in good faith and with due regard for the rights and interests of innocent third parties who are not involved in the dispute between CJHDevCo and the BCDA.”

What a winner statement intended for Camp John Hay stakeholders, businessmen, employees, tenants and other partners under CJH DevCo!

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