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 Newsbreak.ph 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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Post Author: benign0

benign0 is the Webmaster of GetRealPhilippines.com.

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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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jay
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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
world.”
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

Trosp
Guest

What would be the result?

Penoy’s mental meltdowm – final chapter.

It’s not farfetched his minions to follow suit.

DaSuperSoldier
Guest

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.

Mirror Force
Guest

Re: possibility of impending dictatorial regine — Hah, as if we’ll take it lying down.

For truth and justice!

DaSuperSoldier
Guest

Agree, agree!

traffice2000
Guest

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

SalingKetket
Guest

Congratulation Hacienda Luisita Farmers!! 😀

Der Fuhrer
Guest
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
Guest

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…

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[…] 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
Guest

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

DaidoKatsumi
Guest

Na-block na siya ng tuluyan dahil napakabobo nya sa paggamit ng jejemon at hindi marunong sumunod.

TaengGorbachev
Guest

Awwww… I wish to hear him on this. I want to know how he will whine and say “Ibalik kay Tito Noy at sa pamilya Aquino-Cojuangco ang Hacienda Luisita!! Kurakot kasi ang SC at ang mga magsasaka, mga kakampi kasi nina Gloria at Corona!!”. I am having a very good laugh trip with that fag. He makes everyday perfect with his silly antics, just like how Fegelein does for Hitler… LOL

Daido Katsumi
Guest

Oh, they are so laughable yet sooooo irritating at the same time. That proves that he is PNoy’s lap dog and a brainwashed nut. XD

TaengGorbachev
Guest
Perhaps, yes. But I still wonder, btw, why did you call him before a Communist when, in my opinion, he is not(Communists are not really supposed to support oligarchies, right? But the faggot Vincenzo supported his Tito Noy, who is an oligarch, right?)? To me, it is considered a betrayal of principles if I do that, since Communists are supposed to destroy them, not to support them. For me, though, I am just simply anti-democracy(posing as either Communist or Fascist or Nazi,as long as it is anti-democracy, although I sincerely believe in Stalinism, not Maoism as most Filipino “pseudo-Communists” claim… Read more »
Anonymous
Guest

The important thing is that vincenzo is DEAD. He can no longer post here because of his consistency of being the stupidest troll.

TaengGorbachev
Guest

@Anonymous
Oh… I am actually thinking of asking the GRP crowd to put him back so that he can humiliate himself further as an enemy of the people. You know, it’s not enough that he is dead. If such, then degrade his memory in the same way Khrushchev did on Stalin’s memory. Such is also the fate of those people like him, like his Tito Noy and Tita Cory. There should be a Filipino version of destalinization, only that it is the Aquino-Cojuangco legacy that is being trampled, which I think is happening very slowly right now, in the GRP alone.

Anonymous
Guest

@TaengGorbachev

Hmm, getting him back so he can further embarrass himself? Not a bad proposal but it might be best if that stupid sack of crap never return here. NagpapaGULO lang kasi siya sa usapang matalino dito.

TaengGorbachev
Guest

@Anonymous
Perhaps if all the GRP people discuss face-to-face, without the need of computers, Vincenzo can come, so that when he comes, he will be shot down. Not only will it decrease faggots like him, but also, in my opinion, helps others who are living, by using Malthusian practices on curbing population growth.

Anonymous
Guest

@TaengGorbachev

If I ever see his ugly mug in person, I would introduce VBA to my metal baseball bat….FACE FIRST.

TaengGorbachev
Guest

@Anonymous
Add it with psychological torture and he will surrender, just like how Stalin used the secret police against his enemies during the Great Purge, then use the baseball bat, then dishonor his corpse. Then include his family as well; as a lesson to future generations.

Zoo Yorker
Guest

We’ll give that Vicenzo a big swing of baseball bat to smash his pea size brain hahaha!

Congratulations to the Hacienda Luisita farmers for fighting what really belongs to them. Imagine, they fought for the land for 44 years, that’s half of a lifetime for some of them and I feel bad for them since some of the farmers died years ago, some are too sick to till lands and some had nearly lost hope for their war against Cojuangco-Aquino oligarchy.

Ronald Montemayor
Guest

My goodness, don’t push your luck invoking YouKnowWho’s name. Baka nga bumalik siya. 😛

Maybe the people paying him to troll here ran out of money…

I say, GOOD RIDDANCE!!! ^_^

Aegis-Judex
Guest

Well, if VBA returns, I’ll introduce his nuts to my balisong. That way, not only will I not kill him, I also ensure that he will breed no more fools.

BUT I DIGRESS. It seems that the Cojuangcos now face those two dreaded letters: GG!

nelson ongpauco
Guest
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 pinapatay.si 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 »
Felipe
Guest

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’

ItchyBB
Guest

Pathetic!

Mirror Force
Guest

Wow, seryoso ‘to?

Brainwashing lang eh ‘no.

Frank
Guest

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.

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[…] 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 […]

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[…] 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 […]

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