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Strategic Alliance Development Corporation Vs. Radstock Securities Limited and Philippine National Construction corporation

STRATEGIC ALLIANCE DEVELOPMENT CORPORATION, Petitioner, vs RADSTOCK SECURITIES LIMITED and PHILIPPINE NATIONAL CONSTRUCTION CORPORATION, Respondents. / ASIAVEST MERCHANT BANKERS BERHAD, Intervenor.

G.R. No. 178158 | 2009-12-04

D E C I S I O N

CARPIO, J.:

Prologue

This case is an anatomy of a P6.185 billion[1] pillage of the public coffers that ranks among one of the most brazen and hideous in the history of this country. This case answers the questions why our Government perennially runs out of funds to provide basic services to our people, why the great masses of the Filipino people wallow in poverty, and why a very select few amass unimaginable wealth at the expense of the Filipino people. 

On 1 May 2007, the 30-year old franchise of Philippine National Construction Corporation (PNCC) under Presidential Decree No. 1113 (PD 1113), as amended by Presidential...