Camp John Hay loses SEC fight in rush to sell ‘money-back’ condo units

The Camp John Hay-Fil Estate consortium has lost its case in the Supreme Court against the Securities and Exchange Commission for selling condo units in Baguio under a “money-back” arrangement even without SEC approval.  The highest tribunal also overturned Court of Appeals Associate Justices Hakim Abdulwahid, Marlene Gonzales-Sison and Edwin Sorongon for misreading the securities regulation law and stopping the SEC in favor of the financially-troubled developer.    Read the article…………

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