PHILIPPINE REAL ESTATE and RELATED NEWS in and around the country . . .
.
.

Pag-IBIG cannot be sued by Globe Asiatique

By Jose Rodel Clapano (The Philippine Star) Updated November 09, 2012

MANILA, Philippines - Pag-Ibig Fund chief executive officer (CEO) Darlene Marie Berberabe said yesterday the board of trustees of the Pag-IBIG Fund cannot be sued by Globe Asiatique (GA) Realty Holdings Corp. because the former has no legal personality of its own.

In a statement, Berberabe said the Court of Appeals (CA) only ruled that the judge of the Makati Regional Trial Court (RTC) did not abuse his discretion when he denied Berberabe’s motion to dismiss the case filed by the Globe Asiatique against the Pag-IBIG Fund and its board.

“This is a gross distortion of the decision of the Court of Appeals. The court never said that Pag-IBIG or any of its officers is liable to Globe Asiatique” Berberabe said.

In her petition, Berberabe claimed that the board cannot be sued because it has no legal personality of its own.

“This specific case was never about the merits of the civil case filed by GA against the Fund,” Berberabe said.

Berberabe said the case filed by Globe Asiatique is still pending before the Makati court. She also said she has filed a motion asking the CA to reverse its decision.

It will be recalled that Pag-IBIG Fund earlier filed a non-bailable syndicated estafa case against Globe Asiatique’s owners Delfin Lee and Dexter Lee where warrants for their arrest have been issued, in connection with a P6.6 billion fraudulent loans Globe Asiatique obtained from the fund.

Berberabe said that in retaliation, Globe Asiatique filed a case for damages before the Makati trial court against the Pag-IBIG Fund and its officers to force the continued implementation of the fraudulent loans.
_______________________________________________________________________

real estate central philippines
Copyright ©2008-2017