Ph Supreme Court rules on Hacienda Luisita – values vast plantation at a measly P200 million

It’s final. To the plea of Hacienda Luisita Inc (HLI) that its vast plantation in Tarlac is worth P5 billion, the Philippine Supreme Courte voted 8 to 6 for a final valuation just short of P200 million. This is based on an assessment of P40,000 per hectare made in 1989 when the Department of Agrarian Reform (DAR) approved a stock distribution option (SDO) in place of full application of the Comprehensive Agrarian Reform Program which mandates distribution of the property to its 6,000 claimants.

This spells trouble for the Cojuangco-Aquino feudal clan. According to a report published on featured in a Get Real Post article in November 2011, HLI is burdened with a P2 billion “capital deficiency”. This could mean that the value of its marketable assets is short by that amount to cover its current liabilities. Clearly, the Supreme Court (SC) ruling requiring HLI to sell almost 5,000 hectares of the estate to the government for about P200 million may leave the Cojuangco dynasty asset-less and in debt. This could also spell trouble for the Cojuangcos’ extended network of business partners and close associates who may have significant exposure to HLI liabilities. If HLI descends into insolvency oblivion, it coud to drag down along with it every entity it owes money to and could even precipitate a mini financial crisis on its own if the web of financial exposure to the doomed enterprise unravels beyond what is known today.

This brings to light the very plausible underlying agenda of the administration of President Benigno “Noynoy” Aquino III. A Noynoy presidency was apparently deemed critical to ensure that the “right” people were in the Supreme Court over the 2010-2016 presidential term, most likely to ensure that the SC in that period dished out rulings favourable to the presidential Kamaganak Inc which, of course, includes the owners of HLI. This likely inlcudes keeping the TRO in effect and buying enough time for HLI to get its sorry financial position back in the black.

It is no wonder then that Noynoy threw a monumental fit when he first faced the prospect of a presidency under a Supreme Court led by Arroyo appointee Renato Corona. To Noynoy, Corona represented an absolute roadblock to the whole point – his mission to his family while President of the Philippines.

Indeed, an “exclusive” report by Charlie V. Manalo and Virgilio J Bugaoisan in The Daily Tribune article Noynoy out to reclaim Luisita through CJ’s impeach possibly reveals who Noynoy’s real bosses are — the “elders” of the Cojuangco feudal clan — and the true implications to them of Noynoy’s epic failure to manage Malacañang’s relationship with the Philippine High Court…

The Tribune source said that the plot to oust Corona was hatched at the Bahay Matanda, the ancestral house of the Cojuangcos after elderly members of the Cojuangco clan reportedy [sic] berated President Aquino for attacking members of the High Court which they believe was the reason the SC justices revoked the stock distribution option and ordered the distribution of the [Hacienda Luisita] sugar estate to its tenants.

“From the time of (President Ramon) Magsasay, the hacienda land was never lost. When Martial Law came, we still did not lose our land. GMA (Gloria Arroyo) and Cory had a fight during GMA’s presidency, we Cojuangcos still did not lose our land. Now that that you (Noynoy) are president, we lose the hacienda!”, the Tribune source quoted an elderly Cojuangco as he berated Aquino in the vernacular.

“You are the reason for our loss of the hacienda, because even the Supreme Court you had to fight with!,” the elderly Cojuangco was further quoted as telling the President.

Supreme Court Chief Justice Renato Corona himself, who is currently undergoing an impeachment trial many say was pushed by Malacañang, claims that the whole impeachment campaign against him was prompted by the SC decision to subject Hacienda Luisita to the CARP late last year — a claim the President denies. Yet back in December 2011, it was a reportedly “furious” President Aquino who fast-tracked the signing of the impeachment complaint in the Philippines’ House of Representatives. Many of the 188 signatories of the complaint allegedly signed the document without even reading it

The speed at which the complaint was signed up to by the House of Representatives is unprecedented. Many observed that the process with which this was done was “rushed”.

Earlier, it was reported that a “furious” Philippine President Benigno “Noynoy” Aquino III pushed for a “fast” impeachment against Corona. This was after Deputy Presidential Spokesperson Abigail Valte went on record to say that Malacañang was “not privy” to what at the time were plans to launch the impeachment bid.

For now, it remains to be seen what the fallout will be for the Cojuangcos and Aquinos as a result of this ruling. Whatever way it will impact the possible outcome of the impeachment trial of Chief Justice Corona is anyone’s guess. Even more interesting will be what contingency plans the President’s family and friends are likely to already have formulated may come to play in the coming weeks.

In other words:

Abangan ang susunod na kabanata.


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31 Comments on "Ph Supreme Court rules on Hacienda Luisita – values vast plantation at a measly P200 million"

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“I see trees of green…….. red roses too
I see em bloom….. for me and for you
And I think to myself…. what a wonderful
Louis armstrong

All together now…
Hacienda luisita – some good news to report, – but i dont think that is what p-noy had in mind with his schoolboy whining at the recent press forum!

The silence is deafening from malacanan, but anyone in tarlac will be able to hear the cojuango-aquino’s scream, or their lawyers plotting.

It aint over until kris aquino sings – unfortunately


What would be the result?

Penoy’s mental meltdowm – final chapter.

It’s not farfetched his minions to follow suit.


I was very happy for innocent people who will finally get what is rightfully theirs.

Good thing that Corona is doing the right thing. And he was right all along: the impeachment trial was more like a scare tactic in order for him to resign. Oh yeah, I’m sure PNoy will go insane after this moment. After all, Atty. Karen Jimeno and others were right about the CJ.

Next stop: dictatorship. Prepare for the worst if that is to happen.


That’s the good news Noynoy wanted to hear =D


Congratulation Hacienda Luisita Farmers!! 😀

Der Fuhrer
Justice has finally been done to the poor farmers of HLI. They are now rewarded with what has been seen as another major-major booboo by the sleeping president. Mr. BS Aquino should watch his back. There are members of the Cojuangco clan who dislike him even more for his continued attempts in provoking the ire of the Judiciary. They lost because of the dictator wannabe. He is to be solely blamed for not finishing what he started. Will Mr. Aquino dare impose dictatorial rule on the Supreme Court and make matters worse for his clan and the country? He better… Read more »
Hyden Toro

It is very clear that the Philippine government was swindled by the Aquino Cojuangco families, with regards to the Hacienda Luisita. We support the independence of the the Judiciary. We support Agrarian Reforms…Down with Feudal Oligarchs…they are the stumbling blocks of our progress as a nation…


[…] quite understandably turned its focus on the not entirely surprising “final and executory” ruling of the Supreme Court in the Hacienda Luisita case against the kin of the nation’s OIC, the brutal clash on Monday between police and squatters […]

Mirror Force

O, asan na si Vincenzo? Ano’ng masasabi mo dito? Hahahahaha!

nelson ongpauco
ang masasabi ko lang ka pinoy ay tigilan na niya ang mga marcos ,ako ay hindi pro marcos galit nagalit nga kami noong nababasa namin ang balita sa news pero ano ang napala natin ng maalis si marcos eto ang mga pumalit sa kanya ay mas magnanakaw sa bayan at marami rin marcos marami ang nagawa at pinagawa para sa pinas ang pumalit sa kanya ano ang nagawa wala ..ang mga mayaman lalong yumaman masaya sila ng nawala si marcos gaya ng koryente nagmahal ang bayad dahil ibinalik ni cory kay lopez .ang mga komonista na maraming pinatay na… Read more »

This headline is so funny—PDI writer up to another of his usual spin. How can it be Cory’s “glowing legacy” when it was Corona, as opposed to Cory and her SDO, who’s been advocating the just distribution of HL to its farmers?

Here –> Corazon Aquino’s ‘glowing legacy’


I’d be quietly satisfied about this were I not also somewhat convinced that there might be something worse in the wings after him.

Remember, Erap placed second.


[…] Benigno “Noynoy” Aquino III’s entire presidency. The Supreme Court had already ruled in favour of its long-overdue dissolution under the tenets of the Philippines’ Comprehensive Agrarian Reform Program […]


[…] he appointed, as he was almost certainly instructed to, someone who was simply supposed to help ensure rulings favorable to the narrow interests for which he is a proxy. Destroying the Supreme Court as an institution […]