Capitol says P60 million is left of Balili lot sale proceeds

CEBU, Philippines - Capitol consultant Rory Jon Sepulveda said that contrary to reports, the proceeds of the Balili property in Barangay Tinaan, Naga City, still has at least P60 million.

In an interview with the media, the Capitol consultant on information and revenue generation said he believes that aside from the P43 million cash in hand, as what the lawyer of Amparo Balili, the spouse of the late Luis V. Balili, had told Regional Trial Court (RTC) Judge Ester Veloso recently, the P24 million that is reportedly on “investments” now has earned interest. There is at least P69 million to that equation, he added.

Sepulveda was particularly keen on the amount left of the P98 million that the province had paid the Balili clan last year for the purchase of the 24.7-hectare property in Barangay Tinaan, as it is  now claiming the P37 million as reimbursement for that payment.

More than a year after acquiring the property, the province discovered that a big portion of it is actually submerged in seawater and is a mangrove area, which is public domain, thus inalienable.

Early this month, the province filed a notice of claims with motion for accounting before RTC branch 6, an estate court handling the Balili estate case, asking it to order estate executor Atty. Romeo J. Balili and Amparo Balili to account P98 million proceeds of the sale of the subject lots.

Sepulveda said that only Amparo Balili can tell if the entire amount is still intact, but what is important is that they can reimburse the P37 million, otherwise the province will file a case against them. — Liv G. Campo/WAB    (FREEMAN NEWS)