Monday, February 23, 2015

Camp John Hay: All is Well! Nothing Amiss!

Camp John Hay's SobrepeƱa
Camp John Hay's SobrepeƱa
The controversy between Bases Conversion and Development Authority (BCDA) and Camp John Hay Development Corporation (CJHDevCo) is arbitrarily settled and by principle and by actuality, the tribunal's order is  in full force. Thus, the arbital tribunal to this effect issued an Award in the arbitration in favor of CJHDevCo.

The award then stipulates that approximately Php1.42 billion in rentals be given back by BCDA to CJHDevCo without reservation.

In return, the CJHDevCo would have as directed to leave the Property being leased and turned it over to the BCDA with all improvements caused by CJHDevCO while they're under contract or during the term of the lease.

The arbitral tribunal, further found out that BCDA had violated the agreement. In such breach of contract, the BCDA was at the losing end. Therefore, it made the CJHDevCo free from liability of paying the back rentals of Php3.3 Billion which CJHDevCo had failed to settle.

All Is Well

With that decision of tribunal concerned, all is well for CJHDevCo and the order becomes enforceable and should be executed unless the court would issue an order to stop it.

In retrospect While this controversy between BCDA and JCHDevCo was gaining momentum, there were third parties that were doing business with the former. They're subleasing some properties in Camp John Hay. However, it was stated that they weren't affected nor involved. Their sub-contract would still be in effect.

Therefore, with the issuance of the Award, the both parties involved would abide with the terms and conditions mentioned therein in good faith and would honor the rights and interests of those third parties who didn't have the knowledge of  controversy about the camp. And of course, they're not involved in the dispute between CJHDevCo and the BCDA. They should be well respected.

In a latest press conference by the officers of CJHDevCov, all those things mentioned previously were emphasized as true and correct basic pieces of information for the public to know, for the public to evaluate that as mentioned all is well. Nothing is amiss.

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