Bank directed to pay Rallos heirs

The implementing sheriff of the judgment debt in the controversial case involving the property of the late Rev. Fr. Vicente Rallos has directed the Philippine Veterans Bank to “deliver” the P133 million to Rallos’ heirs.

In its final notice, Sheriff Eugenio Fuentes gave the bank 10 days to comply with the order. The money serves as compensation of the city government for converting Rallo’s property into a public road.

Fuentes also warned the bank that it can be cited for contempt if it failed to comply with the order.

In a letter to the court, the bank said earlier that the city government has enough funds to pay for the compensation.

Contrary to the argument of the city government, Fuentes averred that the funds deposited by the City of Cebu to the Philippine Veterans Bank are not covered by any ordinance allocating the money for a specific project.

“The undersigned is left with no recourse but to comply and do what the honorable court explicitly required him,” the final notice reads.

Fuentes cited Rule 39, Section 39 of the 1997 Rules of Civil Procedure, which requires the bank to deliver the judgment debt to the claimants within 10 days.

A writ of execution and notice of garnishment was issued by the court directing the City of Cebu to pay P133 million to Rallos’ heirs as compensation for the property.

Meanwhile, Fuentes dismissed the third- party claim filed by the Filinvest Land Inc. for being “defective.”

He said that the demand to require the Ralloses to put up an indemnity bond lacked legal basis. FLI has filed a third party claim after the Rallos heirs chose the property at the South Road Properties Filinvest is currently developing as alternative compensation.

Fuentes also denied the motion filed by the Ralloses for the issuance of a certificate of title. The Ralloses asked for the issuance of a certificate of title, claiming that they have won in the public auction of the SRP lot last December 2011 and they were the lone bidder.

The court however, ordered to hold the auction in abeyance pending resolution of the motions filed by the parties in the case.

Fuentes then issued an order to hold the public auction of the SRP lot on April 10, 2012. The proceeds will be used as compensation of the city government to the Ralloses should the bank refuses to deliver the payment.