‘Fake’ sale of BHI’s Boracay property stopped

A LOCAL court has stopped what Panlilio-led Boulevard Holdings Inc. (BHI) decried as a fraudulent attempt by the “previous” owner to auction off half of the beach frontage long owned and occupied by Friday’s Resort in Boracay Island.

In a disclosure to the Philippine Stock Exchange on Monday, BHI said a Quezon City Regional Trial Court judge had cancelled the auction date of the 1,477-square meter Boracay beachfront property – a transaction that was meant to satisfy personal debts allegedly owed by the former owner Mila Yap to businessman Amable Aguiluz of Ama Colleges.

BHI chair Jose Marcel Panlilio said the “fake sale engineered by third parties” originally ordered set for March 7 would not push through, citing the new order from the RTC judge cancelling the auction as “good news.”

In an order dated March 4, RTC presiding judge Edgardo Bellosillo noted that property was also the subject of another pending case in Makati RTC where the injunctive order of the Court of Appeals was the subject of a pending petition before the Supreme Court.

Although there is no temporary restraining order or writ of preliminary injunction issued by the higher court for the RTC to stop the sheriff’s sale of this lot, the judge said “there is a strong probability that the outcome of the pending petition at the Supreme Court would be considered moot and academic.”

As such, the judge said the plaintiff Lonavla Properties Inc. should instead “go after the other property of the defendant Mila Yap.”