BCDA Wait For The Final Decision #RichFamousLife
Why BCDA wanted so much the management of Camp John Hay in Baguio City? Has been misleading locators and shareholders, claiming the Court of Appeals had lifted the injunction against BCDA, making it appear the private developers are no longer in charge?
In the past, BCDA are doing tactics that discredit CJHDevco in the eyes of the Filipino people especially Baguio residents. But why and how? Robert Sobrepeña, chairman of Camp John Hay Development Corporation (CJHDevCo) alledgedly failing to remit the rent to the government owned Bases Conversion and Development Authority (BCDA) but has the ability to pay the rent which CJHDevco could have very well met its rental obligation of P425 million had it chosen to do so.
BCDA planned to take control and possession of the 247-hectare section inside the former US military recreational facility in Baguio known as Camp John Hay. Sobrepeña’s group won the bid to develop the property in the 1990s, but stopped paying lease rentals to the government since 1998.
The financial standing of Sobrepeña’s Group is through its dealings and operations. The large amount that the group’s gaining through its revenues can sufficed to pay the rent obligation.
The BCDA’s holding up the operations of CJHDevCo that caused decreased revenues in which this unpaid rent evolved.
The Court of Appeals ruled that the P736-million bond posted by the Sobrepeña group for its case in the Baguio RTC, via a firm known as First Integrated Bonding and Insurance Corp., was invalid. According to BCDA, the firm was not accredited by either the Insurance Commission or the Supreme Court to conduct business with any court in the country.
The announcement done by BCDA is just another ploy to discredit the CJHDevCo for the tribunal court in Singapore. The finalization of this case is not yet done and BCDA should respect the decision. Any unlawful moves 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 our locators, buyers, investors and visitors in the camp.
Arnel Casanova wanted CJH DevCo to be replaced by other investors or the government will take over the management and operations of the camp. Likewise, he would make another step to finally oust the present investor because it will not give positive revenues to the people of Baguio City?
The CJH DevCo will not give-in to Bases Conversion and Development Authority (BCDA) dirty tactics until the finalization of the court’s decision. The timing seems vague while this event happened last November 1. Even though how hard for the present investors, still they wanted this case to be settled by the court. Moreover, they made enough contributions to the camp. Development was on-going and more financial investments are coming at hand. Because of these, BCDA’s doing their best to acquire the revenues.
So, it’s in the hand of the Singaporean court to finalize and decide the outcome of this case. The two entities should abide and respect each other at this moment.
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