RJ to file motion for reconsideration on Buendia property

MANILA, Philippines - The RJ Group decried the unusually fast decision handed down by Justice Brion ordering RJ to return the possession of the prime Buendia land to PNB.

“The order of Supreme Court Justice Brion which excludes the Buendia land from the collaterals to be returned to RJ came with unusual speed and parties were not even asked to comment”; Atty. Junoy Verano, legal counsel for RJ Ventures Realty said in a statement. “We will file a motion for reconsideration and question why some collaterals were excluded.”

The high court previously ruled on Feb. 7, 2007 that RJ could not be considered in default and all collaterals must be returned to status quo ante.

“We also are surprised that Justice Brion also did not act on the motion of the Volunteers Against Crime & Corruption (VACC) to intervene and merely took note of it,” Verano reiterated.