Re: [A-List] Philippines: airport terminal nationalised

["Gary Santos" <garysantos@xxxxxxxxxxxx>]

> However, the supreme court declared the contract illegal in 2002,
prompting
> the government and Fraport to begin talks on compensation. Last year,
> Fraport and its Filipino partners asked international arbitrators to
settle
> the commercial dispute after the two sides could not agree on the pricing
of
> the facility.
--------------------------------------
There was overpricing and scandals of alleged corruption. The articles
published
on the scandals might still be on the internet.


> Peter Wallace, an Australian business consultant and one of the spokesmen
> for the foreign business community in Manila, supported the government
> takeover, saying it was necessary so the facility could be completed.
-------------------------------------
Wallace has been in the country for more than 35 years. What was unique
about him is that he seemed to have information on the economy that no
one had. He married a Filipina and settled down in Manila and in a yacht. He
is consulted by the foreign and local business community on many matters.


>
> "We don't see it as a precedent. It's a very unique case that needed to be
> resolved in the public interest," he said.
>
> However, Harry Roque, an expert on international commercial law, said the
> government was not following due process. The law professor said the down
> payment of only 3bn pesos was below the legal minimum, which should be
> equivalent to 100 per cent of reconstructing the facility.
------------------------------------
I've never heard of this fellow. I will be surprised if he has a long
standing
reputation in law. There is no prominent law firm that I know of that has a
Roque name partner.

This article is spurious as far as I'm concerned.

Gary




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