‘No offer to sell condo to FPIC’

Residents of West Tower Condominium in Barangay (village) Bangkal, Makati City, denied Wednesday the claim of First Philippine Industrial Corp. (FPIC) that it had offered to sell the building to the Lopez-owned firm for P2 billion.

“We sued for P2 billion which may result in their getting the building but it includes many components like damages and health fund,” Manuel Chuaunsu, the owner of one of the units in the 22-story building, told the Inquirer.

Chuaunsu was referring to the P2-billion compensation and damage suit he and the other residents filed in March against FPIC with the Makati Regional Trial Court.

The other day, FPIC president Tony Mabasa said that the residents were just posturing “because they want us to buy the West Tower for P2 billion.”

According to Mabasa, FPIC had turned down the offer because the amount was “unreasonably high.” He added that the offer was made by the homeowners through their lawyer Lorna Kapunan.

Robert Dimayuga, president of the West Tower Homeowners Association, explained that the P2-billion damage suit against FPIC included the cost of replacing the residents’ condominium units.

“It [replacement of units] costs around P900 million. But of course, there are other charges like exemplary, actual and moral damages, as well as lawyers’ fees,” Dimayuga said in an interview.

According to him, the case was filed by around 60 percent of the residents in the building. West Tower has 177 unit owners.

He added that the amount they were seeking from FPIC included a medical fund, not only for West Tower residents, but also for other homeowners in the affected barangay.

“The medical fund will not go to our pockets but it will be an escrow account that will be used in the future when somebody gets sick as a result of the oil leak problem,” Dimayuga said.

Dimayuga added that eventually, FPIC would get the West Tower building “because the P2 billion already covers the replacement of our units. It would be unfair [to] them if we get the P2 billion for damages and we won’t let go of the building.”

Dimayuga said Mabasa’s statement was just meant to sow confusion, especially in the minds of the public.

Sought for comment, Mabasa told the Inquirer that even before the filing of the P2-billion damage suit, the residents had asked FPIC to buy the building.

“They were requiring us to buy the property, initially at P2.6 billion. We disagreed. We told them we couldn’t afford it and … we didn’t find it reasonable. Then they lowered the amount to P2.2 billion. We turned it down again and that’s when they sued us,” he said.