MANILA, Philippines - The writ of preliminary injunction issued by the Baguio City regional trial court against the Bases Conversion and Development Authority stays after Camp John Hay Development Corp. (CJHDevCo) filed an injunction bond amounting to P736,328,465.50 the other day.
The bond was in compliance with the requirement attached to the writ of preliminary injunction that Baguio City Judge Cleto Villacorta III issued against the state-owned BCDA last April 27.
CJHDevCo executive vice president and chief operating officer Alfredo Yniguez said the bond was filed to show CJHDevCo’s good faith to the court.
Villacorta issued the writ of preliminary injunction to prevent the BCDA from forcibly ousting CJHDevCo from the 247-hectare Camp John Hay, a former American rest and recreation base that it has leased to the private developer.
The writ also prohibits the BCDA from awarding the disputed leased property to a new entity. – Jose Rodel Clapano, Artemio Dumlao