Supreme Court asked to rule on SM case

THE state-owned Bases Conversion and Development Authority (BCDA) has challenged a resolution by the Supreme Court (SC) Special Third Division declaring that the unsolicited proposal of SM Land Inc. (SMLI) to develop the 33.1-hectare Bonifacio South Pointe government property should be subjected to a “Swiss Challenge” instead of a competitive “public” bidding.

Arnel Paciano Casanova, BCDA president and chief executive, said on Thursday government now stands to lose some P13 billion worth of prime asset when it disposes of the 33.1-hectare Bonifacio South Pointe through a Swiss challenge as compelled by the SC Third Division.