Tuesday, July 1, 2014

Camp John Hay Arbitration Case - Private Investors Being Bullied by a Gov Arm

Over and over we hear news about Revilla, Napoles, and now Nora. But it recently came to attention that there are other important news that are worth knowing. And one of this is the case on Camp John Hay. News have been circulating about the Camp John Hay Arbitration case since 2012. The arbitration court in Singapore reported that it will give its ruling or conclusion within the quarter of this year 2014.

The case is about the Bases and Development Authority (BCDA) filing a law suit against its long time private investor, Camp John Hay Development Corp (CJHDevCo), for failing to pay PHP1.5 Billion in rent from 1998 to 2000. In CJHDevCo's defense, this amount is a ridiculous given that BCDA broke its side of the agreement by not allowing CJHDevCo to maximize the land and give the necessary building permits. BCDA has denied permits for more than 15 projects worth billions of pesos, refused any negotiations with the rentals, and much more without considering the damage to CJHDevCo's credibility to its own stakeholders. Thus came about this arbitration case raised by the Regional Trial Court (RTC). 

CJHDevCo's chairman Robert Sobrepeña, who wanted to end this dispute between BCDA to end agreed to pay an injunction bond of PHP736 million as a prerequisite by the RTC. But BCDA President/Ceo Arnel Casanova was not that positive with this arbitration. Fortunately the case went on even with BCDA resorting to black propaganda to influence the masses and courts. Sobrepeña announced that they are ready to fulfill any financial obligation ruled by the court as long as BCDA strictly abides by the contract agreed upon by both parties which would include the turn over of the entire land for development and provide the building permits needed by their projects. This for me is very reasonable since as a business you want to maximize the worth of your investment, and with BCDA trying to manipulate or corner you...its just impossible to grow the business. 

I am fully with CJHDevCo in this case, I completely see the manipulation tactics being played by BCDA. It is truly annoying that corrupt government officials do not leave in peace businesses regardless if they are big or small, lawful or not. I hope to see CJHDevCo win this case and finally maximizing Camp John Hay to its full potential.

From 2012, CJHDevCo has paid over PHP 1.5 billion for rentals alone and over PHP 5 billion for projects. As a business, they were able to create jobs for more than 2,000 local residents and continues to develop/ attract Baguio as a tourist spot. These are just some of the things that BCDA clearly do not value as they only seek to profit from their power-tripping. I hope justice will be served soon and may the people of Baguio finally go on their merry way.
 
ver P1.15 billion in rent from 1998 to 2000.
ver P1.15 billion in rent from 1998 to 2000.
ver P1.15 billion in rent from 1998 to 2000.

2 comments:

ralph said...

I agree with you, CJHDevCo is much willing to pay their obligation as long as BCDA kept their part of the contract. Yahweh bless.

controversialcomments said...

I am also with Camp John Hay Development Corporation as they don't deserve the treatment they get from BCDA.