BIZ BUZZ: Where’s the John Hay money?

The Camp John Hay group led by businessman Robert John Sobrepeña posed the question as it has yet to receive the P1.45 billion that it is entitled to after they vacated the former American rest and recreation base upon takeover by the Bases Conversion and Development Authority (BCDA) in January this year.

To recall, the Supreme Court ruled with finality in December 2024 to reinstate an arbitration ruling that voided the John Hay development lease that the government had struck in 1996 with Sobrepeña-led Camp John Hay Development Corp. (CJHDevco).

Based on that ruling, BCDA recovered the prime Camp John Hay property along with improvements, but then it was also supposed to reimburse the developer’s investments over the past 16 years, amounting to P1.45 billion.

CJHDevco had pressed the Commission on Audit for the payment in December 2024, as the money could be used by the group for its other projects that include property development, renewable energy development and infrastructure.

But so far, the group is still waiting with bated breath for the check.

Sobrepeña laments that they turned over the Camp John Hay property when they were told with finality to do so—sans any drama, he says —but then the government is yet to fulfill its part of the agreement.

But since it has been proven time and again that it is not wise to fight city hall, Sobrepeña has no choice but to sit and patiently wait for what they feel is due them.