News Blog Posts

The Bases Conversion And Development Authority Strikes Again #1MNews

In the past, Bases Conversion and Development Authority (BCDA) misled the stockholders of Camp John Hay Development Corporation (CJHDevCo) and the Filipino people by discrediting Bob Sobrepeña to influence the decision of the courts.

The estafa charges filed against Sobrepeña was the damages worth P1.15 billion from owing BCDA , believing that CJHDevCo was capable of paying its annual rent which misleads the government under the terms of the 1996 lease agreement.
CJHDevCo was supposed to pay an annual rent of P425 million or 5% of gross revenues for the first 5 years of the lease, whichever was higher. This meant that for 1998, 1999, and 2000, the government was supposed to receive P1.275 billion in rental payments.

The long-running battle between the Bases Conversion and Development Authority (BCDA) and CJH Development Corp. led by businessman Robert John Sobrepeña continued as of this day.

Last week, BCDA celebrated a legal victory after the Court of Appeals overturned a pro-Sobrepeña 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 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.

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.

CJH Dev Corp still have the legal rights of the place until such time when the finalization of the proper takeover is serve according to the court ruling in Singapore.

The BCDA wanted the management and operation of Camp John Hay by all means even though rough tactics and propaganda are well-planned.

Read through the pages of your mind.

No comments:

Post a Comment

1M News Network Designed by Templateism | MyBloggerLab Copyright © Fernando Lachica 2014

Copyright@Fernando Lachica 2014. Theme images by richcano. Powered by Blogger.