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BCDA offers to aid John Hay investors

By Othel V. Campos | Mar. 22, 2015 at 11:05pm [ manilastandardtoday.com ]

State-owned Bases Conversion and Development Authority has created a desk to assist all sub-lessees, sub-locators and buyers at the Camp John Hay economic zone in Baguio City to guide them and protect their investments.

BCDA president and chief executive Arnel Paciano Casanova said the desk would provide legal assistance to the sub-lessees, sub-locators and buyers so that they can exercise their rights to protect their investment in Camp John Hay.

“We will provide them with the necessary information and documents they need so that they are well-informed and could come up with a prudent decision to protect their rights and interests,” Casanova said.

“We  recognize the fact that they were misled  into signing a 50-year lease contract instead of 25 years,  and  that due to the CJHDevCo’s [Camp John Hay Development Corp.} continuing  disinformation  campaign, the more we need to help  these CJHDevCo’s victims,” he added.

BCDA legal head Peter Paul Andrew Flores said the new office aimed to answer and clarify queries from sub-lessees, sub-locators and buyers.

“We understand their [sub-lessees, sub-locators and buyers] predicament in this ongoing legal tussle. We are duty bound as a public servant to inform and update them,” he said.

The BCDA and CJHDevCo filed before the Baguio Regional Trial Court a petition for judicial confirmation that will pave the way for the implementation of the ruling of Philippine Dispute Resolution Center Inc.

The arbitration body ordered the BCDA to return the 50-year lease payment to CJHDevCo amounting to P1.42 billion.

CJHDevCo, meanwhile, was ordered to vacate the leased premises and promptly deliver the property in good and tenantable condition to the BCDA.

Sub-lessees, sub-locators and buyers are encouraged to get in touch with John Hay Management Corp. manager for special economic zone administration Zaldy Bello at the JHMC corporate office in  Camp John Hay.
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