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.

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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.

31 Replies to “Ph Supreme Court rules on Hacienda Luisita – values vast plantation at a measly P200 million”

  1. “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

  2. 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.

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

      For truth and justice!

  3. 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 wake up instead and attend to straightening out his continuing mismanagement of the affairs of state. I hate to say it again. Blackouts in Luzon and the Visayas may happen. The economy is not improving. Prices are going up. The Chinese are greedy for our strategic natural resources of oil and gas. Crime continues to proliferate. The internal insurgency should be geared for conflict and development. His peace at all costs stands on a weak platform. There are so many other problems to solve. He is truly a plague when he sleeps on the job.

  4. 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…

      1. 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

        1. 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

        2. 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 they are…) because of, well, people can never really decide on their own(in the case of the Philippines,this view is perhaps confirmed by many articles on this site. But in other cases concerning other countries, I still want to make sure that my view is true). Indeed, look at the Great October Socialist Revolution of 1917 and did the people do anything to stop Lenin? Nope. They didn’t. Perhaps a technocracy may work instead of democracy, at least technocrats can think about anything and everything.

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

        4. @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.

        5. @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.

        6. @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.

        7. @TaengGorbachev

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

        8. @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.

    1. 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.

      1. 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!!! ^_^

        1. 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!

  5. 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 sibilyan ay nasa gobyerno na pati narin ang muslim .dumami ang muslim na squatter sa maynila na dating nasa mindanow lang..

  6. 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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