BHI decries court-sanctioned auction of Friday’s Boracay

Panlilio-led Boulevard Holdings Inc. (BHI)’s legal woes over Friday’s Boracay Beach Resort are not over.

A 1,477-square meter property comprising half of the beach front of the resort is being auctioned off by the “previous owner” Mila Yap, backed by a writ of execution issued by a judge from the Quezon City Regional Trial Court (RTC) and a notice of auction sanctioned by a sheriff.

“We only discovered this future attempt, [which is] this coming March 7, 2016 to retake our property—already under Friday’s Resort’s name and tax duly paid—through a QC (Quezon City) informant,” BHI chair Jose Marcel Panlilio said in a letter to shareholders, a copy of which was disclosed to the Philippine Stock Exchange on Friday.

He said the company was not named as a party to the case. “[We] will file as third party claimants to let Judge (Edgardo) Bellosillo know we are the owners of the lot that has been under our name for eight years to try to stop the fake auction,” Panlilio said.

Panlilio noted a Makati trial court already transferred ownership of this parcel of land to BHI more than eight years ago and made a final order in 2014. In March 2015, a municipal court in Buruanga, Aklan also ordered 200 armed men, led by Yap’s son Datu, be removed from the resort’s premises.

Panlilio alleged Yap pretended to sell the property in 2014. Yap allegedly tried “to transact it to Ambassador Aguiluz of AMA Colleges, then after receiving money of P74 million from him, could not repay, so they both pretended to compromise in the QC [court] by offering it for auction.”

The property is now valued at P120,000 per square meter, compared to only P35,000 per square meter eight years ago, which Panlilio said was the “main reason for the previous owner to pretend she still had a claim.”