Photo by Joanna Aglibot
By Joanna Rose Aglibot
An operator of a lodging facility and a manufacturer of amphibious aircraft lost their rights to their leased properties after the Subic Bay Metropolitan Authority (SBMA) repossessed their properties on Tuesday.
SBMA Chair and Administrator Jonathan Tan led the seizure of the land and assets of Parabion Inc. and Ramphos Corporation due to “contractual defaults.
Tan told the Freeport Insider that SBMA took over the land and two buildings of Parabion in the Cubi Triboa District. The company operates a bed and breakfast or a lodging facility.
Parabion owed the government about P10 million as of July, Tan said.
“We already sent them a final notice of default with demand to pay on November 22, 2022, then we sent them a notice of pre-termination and repossession on July 28 that was served on August 10. This is pursuant to SBMA Board Resolution No. 23-07-0173 that was approved last July 4,” Tan noted.
The SBMA also repossessed Ramphos’ 966-square-meter portion of Bldg. 8045-C at the Subic Bay International Airport (SBIA). The company produces and sells amphibious ultralight aircraft.
Tan said Ramphos had an expired lease agreement with the SBMA since 2020.
He said Ramphos has contractual defaults such as non-payment of lease rentals (building spaces) and other fees. FREEPORT INSIDER
