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MANILA, Philippines- The Court of Appeals( CA) has dismissed the complaint of Delfin Lee’s Globe Asiatique Realty Holdings against the Home Development Mutual Fund (HDMF or Pag-IBIG Fund) for breaching provisions in a Memorandum of Agreement entered into by the two parties.
In a statement on Friday, November 29, Vice President Jejomar Binay, also the chairman of Pag-IBIG, said the appellate court has reversed the decision of Judge Eugene Paras of Regional Trial Court (RTC) Makati Branch 58 which earlier ruled in favor of Lee.
Lee accused Pag-IBIG of reneging on its contractual obligations after the housing agency nullified the continuing Funding Commitment Agreements (FCAs) and Collection Servicing Agreement (CSA) it entered into with Globe Asiatique due to questionable loans with Pag-IBIG using ghost buyers.
Paras had granted Lee’s petition to declare him entitled to damages from Pag-IBIG. The CA later on filed a temporary restraining order against Paras’ ruling.
The CA’s Amended Decision promulgated last November 21 said the complaint failed to name Pag-IBIG Fund chief executive officer Darlene Marie Berberabe and the members of the board of directors as defendants in the case.
“Thus, it can be said that jurisdiction over the petitioner (Berberabe), as member of the Board of Trustees, was not properly obtained by the trial court,” the decision read.
Last October,the appellate court dismissed on technicality the petition for certiorari filed by PAG-IBIG which sought the reversal of Paras’ decision. – with a report from Cherrie Regalado/Rappler.com
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