The RTC-Branch 58 Makati City rendered a Summary Judgment declaring HDMF guilty of breach of its contracts with Globe Asiatique. HDMF is ordered to release the titles to fully paid buyers and off-set from the money of Globe Asiatique in its possession the unpaid balances of the delinquent buyers/borrowers. The Summary Judgment also ruled that  HDMF

was the one which approved the PAG-IBIG membership and housing loan applications of the alleged fictitious and ghost buyers, hence, according to the court, it cannot escape with impunity by simply alleging that the buyers whose PAG-IBIG membership and whose PAG-IBIG loan applications HDMF itself approved are substantially composed of fictitious or ghost buyers.

Published in GA Timeline