CJHDevCo offers to waive P1.42B award for displaced investors

CJH Development Corporation (CJHDevCo) has offered to waive its P1.42-billion arbitral award in exchange for the government recognizing the rights of third-party investors affected by the Camp John Hay takeover.

In a letter addressed to President Ferdinand Marcos Jr., CJHDevCo Chairman Robert John Sobrepeña appealed for compassion and a 'just resolution' to what he called a humanitarian crisis, citing displacement and alleged revocation of rights without due process.

The company claims that BCDA padlocked homes and condominium units without notice or due process, affecting long-time residents who invested in good faith under the government's Public-Private Partnership program.

CJHDevCo is willing to relinquish its legal right to collect P1.42 billion plus interest if the government respects the rights of over 3,000 affected individuals and an estimated 2,500 golf club members.

The letter also stated that CJHDevCo's offer will be valid for the next 30 calendar days from the date of the letter, urging President Marcos to direct BCDA to keep owners and investors free from legal challenges.