Balili kids seek share of P98.9M lot sale
WILL the children of the late engineer Luis Balili get their share in the P98.9-million sale of the Balili family’s property to the province?
Regional Trial Court Judge Ester Veloso of Branch 6 yesterday had a closed-door conference with the parties to discuss the possible release of the P7.4 million to Luis’ four children.
The court earlier ordered the release of the amount upon the children’s request.
But the Cebu provincial government opposed the release of the P7.4 million to Luis’ children since it would further risk the province’s efforts to reclaim the P37.8 million as refund for the portions of the Balili property that were found to be underwater.
About 9.4 hectares of the property were underwater in barangay Tinaan, Naga City.
A bigger area of 20.2 hectares is classified as timberland or public land not subject to sale based on a survey by Department of Environment and Natural Resources (DENR) survey.
The provincial government requested the court to freeze the P37.8-million pending resolution of a civil case filed before RTC Judge Rafael Yrastorza of Branch 14.
Provincial Attorney Marino Martinquilla said in an interview the court had yet to resolve the Capitol’s motion for reconsideration.
Martinquilla said the P7.4 million couldn’t be released to the children yet.
The Capitol asked the court to compel the Balili Estate to refund the amount paid for the portion of the property that is underwater.
A total of P44.48 million was withdrawn by Luis’s widow Amparo from the estate’s account in the F. Ramos branch of BDO last Dec. 7 .
After the withdrawal, Balili estate executor Romeo Balil said there is only P24 million and P789,950.87 earnings left as “liquid assets” after the withdrawal or less than the P37.8 million sought by the province. /ADOR VINCENT S. MAYOL
