Contrary to CJHDevco’s claims, we consistently upheld our end-of- the-lease contract and—in three occasions—even agreed to amend it at their behest to give the lessee ample opportunities to make good with their commitments. Little did we know, as the DOJ resolution points out, that their representations on their finances were fraudulent and misleading,” the statement, quoting Casanova, said. “The real issue here is CJHDevco’s non-payment of lease rentals to government while declaring dividends, extending cash advances and assignment of shares amounting to P1.274 billion to its stockholders in 1998 to 2000.”
Posted on: Sat, 14 Jun 2014 11:41:58 +0000
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