By Maria Elena Catajan | SunStar | Monday, October 20, 2014
NOT TAKE over can happen in Camp John Hay until formal arbitration proceedings are finished.
Camp John Hay Development Corporation has maintained their hold over leased properties with a Court of Appeals ruling encouraging arbitration as an alternative dispute resolution and for this reason found no reason to interfere in the arbitration proceedings.
The CA ruling prevents the Bases Conversion Development Authority (BCDA) which upholds a ruling of the Regional Trial Court (RTC) of Baguio City, Branch 6, directing CJHDevCo and BCDA to submit to their controversy over Camp John Hay to arbitration.
“Two years ago, CJHDevCo filed an arbitration case against BCDA for not complying with existing agreements, in a bid to move to official arbitration proceedings, with the recent ruling of the Court of Appeals, the said court found no basis to interfere with the RTC’s decision,” CJHDevCo chief executive officer Alfred Yniguez III said.
Last week, a CA decision lifting the injunction has prompted BCDA to declare a takeover in the leased properties and empowered the government run agency to write concessionaires and post notices to the public.
“The recent CA lifting the Writ of preliminary injunction is not yet final and executory and we will appeal this decision by filing a motion for reconsideration,” Yniguez added. “An injunction was issued by the Baguio RTC in 2012, ordering BCDA to refrain from any forcible takeover attempt, like what they did in Poro Point in 2006, as well as when Cassanova tried to prevent SM Aura from opening, using armed goons and bodyguards.”
The CJH DevCo CEO added “Recently, it was learned that BCDA filed a manifestation to the RTC to dissolve the injunction on the ground that the bonding company, First Integrated Bonding & Insurance (FIBICI) was lacking in authority to issue the same. The bonding company denies BCDA’s claim and asserts the injunction bond submitted to the court had proper authority for its issuance. FIBICI is in the process of answering BCDA’s assertions before the RTC.”
Yniguez meanwhile said CJH Devco’s bond is still valid and binding, although a bond is deemed no longer necessary as the result of arbitration is fore coming very soon.
CJH DevCo filed a P10B arbitration case against BCDA for non compliance with their agreement and various other breeches by the BCDA.
“BCDA attempted to picture the bonding company as a Janet Napoles company. An SEC report, however, shows that Janet Napoles is not even a director nor officer of the bonding company nor a substantial owner thereof, with minimal shares of only 7% of the company attributed to Mrs. Napoles,” Yniguez said.
“I hope BCDA will remember that only a court order directing CJHDevCO to vacate Camp John Hay and surrender possession of the Camp will make us stop from protecting the Camp, its residents and its sub-lessees conducting various businesses therein,” Yniguez added.