The Bases Conversion and Development Authority (BCDA) and CJH Dev Co are still waiting for the decision of Arbitration Committee which will be served soon. The CJH DevCo is hoping for the positive effect on their side while the BCDA is very confident that it will serve for their purpose to the final take over. What more can we expect for this longest business drama in Baguio?
In the past, CJHDevco was squabbling for failing to remit the rent to the government owned Bases Conversion and Development Authority (BCDA) but has the ability to pay the rent which could have very well met its rental obligation of P425 million had it chosen to do so.
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.
Arnel Casanova is trying to forcibly take over CJHDevCo hotels and other developments allegedly because the developer is behind in its lease payments. CJHDevCo, on the other hand, claims that the BCDA has been withholding permits so it cannot develop the full 18 hectares leased by it. So CJHDevCo filed for arbitration.
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 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.
It’s now that the two entities should respect each other to wait for the final decision and think in advance about the development of Camp John Hay for helping the revenues of Baguio City.
Likewise, whatever the final decision of the Arbitration Committee, the BCDA, as the government entity should look further in getting the services of developer who initiated the development inside the Camp John Hay.
They should cooperate with each other and work towards the future. If BCDA has other intention than replacing Sobrepena Group to Ayala Land, then, maybe that’s the main purpose why.
The local government of Baguio needed the revenues coming from Camp John Hay, to enable them to uplift the citizens living conditions.
Read through the pages of your mind.
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