Rallos lot case FLI thanks city for firm stand

CEBU, Philippines - Developer Filinvest Land Incorporated (FLI) has shared the city government’s victory in the last legal battle against the heirs of the late Rev. Fr. Vicente Rallos.

FLI, in a statement sent to The Freeman, said they laud the recent ruling of the Regional Trial Court favoring the government. The claim of the Rallos heirs over parcels of land at the South Road Properties has affected the joint venture between Cebu City and FLI.

“The company is grateful to the Cebu City Government for remaining steadfast during the entire case and for honoring the provisions of the Joint Venture Agreement for the SRP properties.  This is not just a victory for Cebu and Filinvest, but for the entire Cebuano community as well, considering that Filinvest’s Citta di Mare project will undeniably change the landscape of Cebu and consequently, the lifestyle of Cebuanos,” the statement reads.

The company stressed that current and potential investors no longer need to worry because the subject properties are now free of liens and encumbrances. FLI also assured clients that despite the dispute, the titles of its developments at the SRP are clean.

“Just the same, Filinvest maintains and assures all its customers and stakeholders that the titles of the developed portion of Citta di Mare – the Amalfi and Sanremo clusters – have always been clean and was never covered by the lis pendens annotation. In fact, Filinvest is poised to release the titles of the first Amalfi building soon, following its turnover to qualified buyers last March. It is already home to SRP’s first batch of residents. The second building is currently being turned over to buyers,” the statement reads further.

FLI area manager Lywena Eco said they have secured a copy of the court ruling and is set to finalize a meeting with the city government.

RTC Branch 9 presiding judge Alexander Acosta ruled on August 27 in favor of the instant motion for reconsideration by the city government of Cebu and denied the motion to strike out or expunge the Rallos heirs’ motion for reconsideration.

With this comes the cancellation of Memoranda of Encumbrances at the Registry of Deeds and Notice of Lis Pendens on the title granted to the Ralloses.

Furthermore, the tagged P43 million fund at the Philippine Postal Bank was cancelled, making the money available for the city government to use.

The City Council has pointed out earlier that the city is out of funds, referring to the tagged money that the city could not use to pay its obligations.

The city has said the dispute has affected sales of the SRP, with investors shying away due to the legal battle. – (FREEMAN)