QC court stops sale of Boracay property

The Quezon City Regional Trial Court (RTC) on Monday stopped the auction of a beachfront property in Boracay Island owned by Friday's Holdings Inc.

The lower court argued that the property is the subject of a pending petition before the Supreme Court.

In a hearing on Monday, the Quezon City RTC Branch 95 said the 1,477 square meters (sqm) real property owned by Friday's Holdings is also the subject of a case at the Makati City Regional Trial Court.

An injunction order by the Court of Appeals is also the subject of a pending petition before the Supreme Court involving the property.

"For this Court to allow the Sheriff's Sale to proceed as scheduled on March 7, 2016, would render moot and academic whatever the outcome of the pending petition at the Supreme Court," the Quezon City RTC said in a ruling as disclosed by Boulevard Holdings Inc. (BHI) to the Philippine Stock Exchange.

Boulevard Holdings is the parent of Friday's Holdings. It owns and operates Friday's Boracay Island Beach Resort, Friday's Puerto Galera Inc., and Crown One Land Inc.

BHI claimed that a certain Mila Yap in 2014 "pretended to sell what does not belong to her, the property which is legally owned by Friday's Holdings Inc."

During the hearing on this matter, it was found that a pending case in Makati City was raffled off to Makati City RTC Branch 146 where the property was scheduled for auction on March 7.

"It is undisputed that the property which is the subject of the sheriff's sale is also the subject of a pending case in Makati City Regional Trial Court where the injunctive order of the Court of Appeals is the subject of a pending petition before the Supreme Court," the ruling by the Quezon City court read.

"(P)remises considered, the Court resolves to suspend the scheduled Sheriff's Sale on Monday, March 7, 2016, in difference to whatever the outcome of the pending petition at the Supreme Court," it added. – Jon Viktor Cabuenas/VDS, GMA News