Supreme Court orders RJ to return Makati land to PNB

MANILA, Philippines - Businessman Ramon “RJ” Jacinto must return to the Philippine National Bank an 8,000-square meter lot in Makati for failing to settle a loan amounting to over P6 billion, the Supreme Court has ruled.

Upholding the Court of Appeals, the SC voided a March 2009 order of Judge Rommel Baybay of Makati Regional Trial Court Branch 132 restoring possession of the property at the corner of Gil Puyat street (Buendia) and Paseo de Roxas to RJ Ventures Realty and Development Corp. and Rajah Broadcasting Network, Inc.

“We fully agree with the conclusion of the CA that the (lower court) had no jurisdiction to issue a writ of execution under the terms it granted; its order effectively varied the tenor of the decision sought to be executed,” read the SC decision.

Associate Justice Antonio Carpio took no part in the voting because of admitted close relation to a party in the case.   – Edu Punay