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‘Unpatriotic’ Carpio putting ‘loopholes’ in China deal – Palace

/ 10:48 AM March 27, 2019
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Senior Associate Justice Antonio Carpio INQUIRER file photo

MANILA, Philippines — Malacañang on Wednesday called Supreme Court Senior Associate Justice Antonio Carpio “unpatriotic” for supposedly showing “loopholes” in the country’s loan agreement with China.

“Siya ‘yung lumalabas na unpatriotic. Parang tinuturuan niya pa ang mga Chinese e. Wala namang loopholes, binibigyan niya ng loopholes,” Presidential Spokesperson Salvador Panelo said in an interview over ABS-CBN News Channel.

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“Justice ka ng Supreme Court, dapat protective ka sa ating interes. Parang kumakampi ka doon sa kabila in a way,” he added.

Carpio earlier warned that China could seize Reed Bank if the Philippines failed to pay $62-million it is borrowing under the Chico River Pump Irrigation Loan Agreement.

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Citing a provision of the agreement, the Supreme Court’s senior magistrate bared that the country expressly waived immunity over its assets including “patrimonial assets and assets dedicated to commercial use.”

He noted that these patrimonial assets and assets dedicated to commercial use include the oil-rich Reed Bank.

READ: China could seize gas in Reed Bank if PH can’t pay loans-Carpio

 

Panelo, who is the chief legal counsel of President Duterte, insisted that there was no collateral in the loan agreement and that the Philippines would “never default” on the debt.

He explained that natural gas deposits in Reed Bank could be exploited and sold to pay the country’s loan from China.

“‘Yung natural gas na kinuha mo sa lupa, kapag ibinenta mo na may share ang gobyerno. ‘Yan ang kukunin nilang kabayaran sa utang mo,” he said. /cbb

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TAGS: Chico River Pump, China loans, Local news, Malacañang, Nation, national news, news, Philippine news update, Reed Bank, Salvador Panelo
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