Chalk up another legal win for the Marcoses, according to the Sandiganbayan.
The antigraft court has rejected the petition of Ortigas & Co. Limited Partnership to nullify the sale of two parcels of land in Pasig to the late president Ferdinand Marcos and his wife Imelda.
It ruled that the Ortigas firm failed to prove that the sale was brought about through threats and intimidation.
In a 61-page ruling, the court cast aside the claims of OCLP that it was forced to sell the two parcels of land — 160,000 square meters and 24,000 square meters—for P40 per square meter to Marcos.
OCLP’s Ignacio Ortigas previously testified that his uncle, Francisco Ortigas, had claimed that he had been threatened by Marcos into selling the property.
“Were it not for the threats of President Marcos, [the] plaintiff would not have sold the 16-hectare parcel of land at all, and worse, at the grossly unconscionable price of P40.00 per square meter or for the total amount of P6,400,000.00,” the OCLP had argued.
The court however said that a “witness can testify only on those facts which he knows of his personal knowledge, that is, which are derived from his own perception.”
“OCLP has failed to establish the presence of either intimidation or undue influence at any throughout the sale. Notably, not a single document that will corroborate the testimony of Atty. Ortigas about the alleged threat or intimidation was presented by OCLP, “ the decision read.
“Atty. Ortigas expressly admitted that the partnership never received any threats officially. There was no letter or correspondence from Marcos or any representative, threatening, expressly or impliedly, the Ortigas and Co. to sell its properties,” it added.
The Sandiganbayan also dismissed the OCLP’s assertion that the price of P40 per square meter was “grossly unconscionable” which vitiated the contracts of the sale and rendered them null and void.
“Article 1470 of the New Civil Code provides that ‘gross inadequacy of price does not affect the validity of a contract of sale, except as it may indicate a defect in the consent, or that the parties really intended a donation or some other act or contract,’” the court said.
The court added that as OCLP was unable to prove undue influence or intimidation on the part of Marcos, “the annulment of the documents of sale on the ground of gross inadequacy of price is not warranted.”
The Sandiganbayan also said that OCLP received the full payment of P6.4 million for the land three years later.
“The court likewise notes the admission of OCLP that the purchase price paid by Mid-Pasig, as well as its predecessor, Maharlika, in the total amount of P6,400,000.00 was integrated into the corporate funds of OCLP and accordingly used by the latter in its business operations.”