MANILA, Philippines - The P1.15-billion estafa suit filed against officials of the Camp John Hay Development Corp. (CJHDevco) has been dismissed.
The Pasay Regional Trial Court Branch 119 recently affirmed its September ruling that there is no probable cause in the complaint filed against CJHDevco officials led by its chairman John Robert Sobrepeña over alleged unpaid rentals.
The court noted that the Bases Conversion Development Authority (BCDA), which filed the case, entered into three Memoranda of Agreements (MOAs) with CJHDevco since 1999 on the payment of rentals on the 247-hectare property.
The court ruling said “BCDA agreed to restructure under the MOAs the debts under a lease agreement,” adding the accused could not be held liable for CJHDevCo’s failure to pay rent.
The court added that a joint committee of officers of CJHDevCo and BCDA agreed to allow the deferment of payments.
“If there was misrepresentation as to the financial condition of CJHDevCo, the officers and directors of BCDA who are members of the committee might have been remiss, if not fell short, of their duty to determine the financial capacity or incapacity of CJHDevCo to pay its obligation,” the decision read.
“There is no evidence that accused Sobrepeña concealed the corporate records and financial statements of CJHDevCo to BCDA,” it added.