The Pasay City Regional Trial Court (RTC) has ordered the government to provide the necessary funds that will be used by the appointed appraiser to facilitate the determination of just compensation to the Philippine International Air Terminals Co. Inc. (Piatco) in line with the expropriation of the long-mothballed Ninoy Aquino International Airport (NAIA)-Terminal 3.
Pasay RTC-Branch 117 Judge Jesus Mupas also directed the government to submit a “certificate of availability of fund” to cover the appraisal fee based on “replacement cost method” submitted by the appointed appraisal firm.
“Based on the submitted proposal of DG Jones and Partners-Philippines, its proposed appraisal fee is US $1.9 million,” the one-page order noted.
Earlier, Mupas found DG Jones and Partners highly qualified to appraise the NAIA-3 facilities, and made its appointment as appraiser official.
The appraisal firm’s fee is broken down into $1.4 million as fixed lump sum fee for valuation of work in place, $200,000 as fixed lump sum fee for valuation of remaining works to complete, and $300,000 as provisional sum for joint survey or inventory.
The appraisal is necessary to finalize the just compensation the government will pay Piatco in line with the facility’s expropriation.
The NAIA-3 Commission, headed by Fiorello Estuar, evaluated at least five appraisal firms that expressed interest in appraising the value of NAIA-3, including DG Jones.
In September 2006, the Pasay RTC released a “writ of possession” after the government paid Piatco P3 billion, effectively setting the stage for the full government control of NAIA-3. However, the amount is only the initial proffered value and full compensation would still have to be made.
The government took over NAIA-3 in late December 2004 shortly after the Supreme Court nullified its build-operate-transfer contract with Piatco. – Rhodina Villanueva