CLARK FREEPORT – An investor has asked the Clark International Airport Corp. to refund it of its advance lease payment and security deposit after failing to get its permit to operate.
In a letter to the CIAC Board, Farm Fresh 25 Corp. (FF25C) through its president, Patrick L. Pelayo, said his company entered into a usufructuary agreement with the CIAC over Buildings 7194 and 7204 which it intended to rehabilitate and use for marketing its products.
While the agreement was dated July 31, 2009, Pelayo said, “the signed copy therof by Victor Jose Luciano, president and chief executive officer of CIAC, was delivered to us only on 3 December 2009.”
This, he added, only after FF25C paid the CIAC P1,164,773.10 as advance lase payment and security deposit.
The company subsequently paid another P500,000 as performance security.
Pelayo said that before December 3, 2009, Luciano “informed” them that he was giving the company four months within which to make the payments and “allowed us, in the meantime, to make use of the premises and make the necessary preparations for our project.”
“These notwithstanding, however, the contract did not materialize because the said agreement was not submitted to and approved by the Board of Directors …and Mr. Luciano did not give us permit to operate, thereby losing our potential investors,” Pelayo said.
It is on that basis, Pelayo said, that his company “formalized our request” for the refund.
Calls to Luciano for his side were not answered up to presstime.
