The Court added that its ruling which granted SMLI
's petition was intended to send a strong message that this is the conduct that the public should reasonably expect of the government.
In denying BCDA's motion, the SC reiterated that "SMLI's offer, which was duly accepted by the BCDA, only serves as the floor price and does not foreclose better offers that can even surpass the property's current market value."
The 2014 decision granted SMLI's petition which sought the nullification of the notice issued by the BCDA that terminated the process of "Swiss Challenge" in the development of the property.
13, 2014, the Supreme Court decided in favor of SMLI, affirming the legality of the agreement.
The elements of a valid contract being present, there, thus, exists between SMLI and BCDA a perfected contract embodied in the Certification of Successful Negotiation, upon which certain rights and obligations spring forth, including the commencement of activities for the solicitation for comparative proposals, the tribunal said.
"Any advantage given to SMLI
now, arising from ambiguous terms and erroneous interpretation of the joint venture guidelines may have unnecessary and undesirable effects.
11 last year, SMLI submitted an "unsolicited proposal" for an additional 200-ha Manila Bay reclamation to Paranaque Mayor Edwin Olivarez.
26, the city council issued a resolution authorizing Olivarez to enter into a joint venture agreement with SMLI for the reclamation.
The 300-hectare project was awarded to SMLI in late November in the absence of any counterproposal from rival companies, which later questioned the selection process.
Tolentino, the minority floor leader, said the previous resolution recalling the awarding of the project to SMLI was a way to protect the council and the executive branch from legal issues arising from the alleged irregularities in the bidding process.
In August 2010, the BCDA published the invitation to real estate firms to submit comparative proposals to challenge the unsolicited proposal of SMLI
for the 33.1-hectare asset.