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Globe Asiatique asks court to reverse land title cancellation

Posted on August 11, 2014 09:44:00 PM [ BusinessWorld Online ]

GLOBE Asiatique Realty Housing Corp. has filed a complaint before the Angeles City Trial Court over the government's cancellation of land titles worth P17 million covering its subdivision project in Mabalacat, Pampanga.

The company, controlled by Delfin S. Lee, claimed that the goverment's Home Development Mutual Fund, known as PAG-IBIG, illegally cancelled 30 land titles associated with its Xevera project in the Mabalacat barangay of Tabun.

Globe Asiatique contends that PAG-IBIG took over the properties from borrower-buyers whose housing loan applications were approved by the agency itself.

In its complaint, the company asked the trial court to order the "quieting of title and removal of clouds from the titles of Globe Asiatique which were illegally cancelled by PAG-IBIG and the Register of Deeds."

Globe Asiatique is currently defending itself from fraud charges stemming from allegedly fake titles on projects that generated some P7 billion in housing loans provided by PAG-IBIG. Mr. Lee was arrested on March 6, 2014 and is currently in detention detained. - Reden D.Madrid

Globe Asiatique asks court to reverse land title cancellation

GLOBE Asiatique Realty Housing Corp. has filed a complaint before the Angeles City Trial Court over the government's cancellation of land titles worth P17 million covering its subdivision project in Mabalacat, Pampanga.

The company, controlled by Delfin S. Lee, claimed that the goverment's Home Development Mutual Fund, known as PAG-IBIG, illegally cancelled 30 land titles associated with its Xevera project in the Mabalacat barangay of Tabun.

Globe Asiatique contends that PAG-IBIG took over the properties from borrower-buyers whose housing loan applications were approved by the agency itself.

In its complaint, the company asked the trial court to order the "quieting of title and removal of clouds from the titles of Globe Asiatique which were illegally cancelled by PAG-IBIG and the Register of Deeds."

Globe Asiatique is currently defending itself from fraud charges stemming from allegedly fake titles on projects that generated some P7 billion in housing loans provided by PAG-IBIG. Mr. Lee was arrested on March 6, 2014 and is currently in detention detained. -- Reden D.Madrid  
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