Close  

Why Sunchamp deal documentation is sloppy

12:03 AM November 04, 2014

The hearings before the Senate blue ribbon subcommittee on the corruption charges against Vice President Jejomar Binay reveal to us how supposedly bright lawyers could look so dumb in an effort to insulate their clients from being charged with the scams they themselves concocted to circumvent the law.

Take the case of Sunchamp Realty Development Corp. which is said to be fronting for Binay in his acquisition of the Batangas farm/resort, a luxurious estate fit for the rich and famous. The scheme was meant to shield him from potentially explosive charges of ill-gotten wealth.

ADVERTISEMENT

No due diligence was done regarding the status of the property and the documentation, if any, was shamefully sloppy. Obviously, the thinking was the less paper trail, the better to derail any investigation. No lawyer worth his salt would deliberately put a client like Sunchamp in such a disadvantage if that deal was bona fide.

The lack of care, as far as legal formalities were concerned, could only point to the fact that the parties (including their lawyers) knew it was a bogus transaction and that Sunchamp was never meant to assert any lawful right to the property in any court of law. Chances are, hidden documents bear Binay’s name. That is the only sensible reason—for those who were not born yesterday!

FEATURED STORIES

—GEORGE DEL MAR,

[email protected]

Read Next
LATEST STORIES
MOST READ
Don't miss out on the latest news and information.
View comments

Subscribe to INQUIRER PLUS to get access to The Philippine Daily Inquirer & other 70+ titles, share up to 5 gadgets, listen to the news, download as early as 4am & share articles on social media. Call 896 6000.

TAGS: documentation, due dilligence, Hacienda Binay, Jejomar Binay, Lawyers, Sunchamp
For feedback, complaints, or inquiries, contact us.


© Copyright 1997-2019 INQUIRER.net | All Rights Reserved

We use cookies to ensure you get the best experience on our website. By continuing, you are agreeing to our use of cookies. To find out more, please click this link.