EGI Maribago, Lapu-Lapu, Philippines

EGI

EGI Maribago is a subdivision containing 2 condominium buildings and one condo hotel. Also known as “EGI City by the Sea”. A couple of English schools, diving schools and restaurants are also included together with swimming pools and beach.

EGI

Located next to the highway, with walking distance to Maribago market and shopping malls.

here EGI

SO WHAT IS THE PROBLEM?

E. Ganzon Inc. is the problem. E. Ganzon Inc. is a Manila based property development company that developed this subdivision and erected the buildings 25 years ago.

Let’s have a look at condominium building 2 where E. Ganzon Inc. has sold 60% of the total area to individual owners. Still they act like they own this building 100%.
E. Ganzon Inc.
:

1 Haven’t established a Condo Association (HOA) yet.

2 Don’t share accounting with owners.

3 Don’t share budget with owners.

4 Don’t share balance with owners.

5 Newer had annual meeting.

6 Charge owners for use of condo common area.

7 Interrupt individual power bills and add 60%.

8 Still own the lot that belongs to the HOA.

9 Charge double for use of amenities’.

10 Continue to violate the Bylaws and the Master deed.

EGI EGI EGI

They run this condo from Manila, with a secretary locally that knows nothing about running a condo. The self-appointed trustee professor Oscare E. Reyes is running this house on behalf of E. Ganzon Inc. from Manila.  

Last year we had a court order to elect officers and start a HOA. This was conducted by professor Oscare E. Reyes who concluded no quorum, so no voting and no HOA. This quorum calculation was based on "owners in good standing" which is totally misunderstood. We had plenty quorum, but professor Oscare E. Reyes doesn’t even know the bylaws for the house.

The unit’s E. Ganzon Inc. still own are rented out to a company that runs these units as a hotel. The master deed does not allow commercial operations other than in the ground and 1st floor. E. Ganzon Inc. has no ownership at the ground and 1st floor.

EGI

So 60% of the owners have absolutely no say in anything. A week ago I ask the secretary to replace the night guard, who has a habit of bring out the lobby furniture to the back room and go to sleep after midnight. This was not the first time. I FEEL A LOT SAFER WITH NO GUARD, THAN WITH A SLEEPING GUARD WITH A LOADED GUN. The guard is still here. This guard also claimed that he had approval from management when he put a padlock on the fire/emergency door.

here

 

We have sleeping guards also at the main gate, with loaded guns.

E. Ganzon Inc. hire guards without any instructions, management, or local oversight.


Picture taken a few days ago.

 

E. Ganzon Inc. is probably safe in Manila. And I am sure they are happy if we are not. AFTER ALL THEY HAVE DISRESPECTED 60% OF THE OWNERS FOR A VERY LONG TIME.

EGI

WHAT DO THEY THINK THEY ARE?

It is unbelievable that a company like E. Ganzon Inc. has been breaking the  law (PRESIDENTIAL DECREE NO. 957) that can result in ten years imprisonment over so many years, and continue to break the law.

They know that the courts don’t care about this kind of white collar crimes. But things might change.

The Philippines is a member of WTO and IMF.

Is it time for the Philippines to leave the WTO and IMF?

If the lawmakers can’t make a simple financial instrument as the condominium concept work according to international law, (foreign investors are losing, and Philippine companies can break the laws), do they belong in the WTO and IMF?

Time to move this legal problem into a political problem?

 

Any comments;

Updated April 19th 2016

 

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