• SC stops Bonifacio Property bidding


    THE Supreme Court (SC) made permanent the Temporary Restraining Order (TRO) it issued against the Bases Conversion Development Authority (BCDA), effectively stopping the agency from bidding out the controversial P13.3-billion Bonifacio South Pointe property.

    SM Land Inc. (SMLI), owned by tycoon Henry Sy’s family, was the original proponent for the development of the property.

    The case was brought before the SC after BCDA decided to hold a public bidding for the property.

    According to the SC, the issue in this case boiled down to whether the BCDA gravely abused its discretion in issuing a notice that unilaterally aborted the Competitive Challenge, and in subjecting the development of the project to public bidding.

    A Competitive Challenges “provides a top-down view of a firm’s performance, allowing effective drill-down and root-cause analysis.”

    SMLI alleged in its petition that a certification issued by the BCDA and signed by the parties constituted a contract and that under the contract, BCDA cannot renege on its obligation to conduct and complete the Competitive Challenge.

    In the ruling, the SC said that it cannot sustain the BCDA’s arguments that its withdrawal from the negotiations is permissible and was not done with grave abuse of discretion.


    Please follow our commenting guidelines.

    Comments are closed.