Abby vs. Nancy: Subway Deal Controversy
Binay-Campos Defends Makati Subway settlement, Accuses New Admin of “Mudslinging”
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Makati City, Philippines – Former Makati City Mayor Abby Binay-Campos has strongly defended a controversial settlement agreement concerning the city’s subway project, accusing the current management of engaging in “mudslinging” and politicizing the issue. The agreement, which involves a payment of $160 million to Infradev Holdings Inc., has been a focal point of contention since the new leadership took office.
settlement Process and Financial Prudence
Binay-Campos clarified the procedural steps required for the settlement’s finalization, emphasizing that the absence of an appropriation yet is due to the ongoing arbitration process. “It will require an approval from the Audit,on Audit) approval,and lastly it will require an approval of the city council for the appropriation of funds for the payment,” she explained during a press briefing. She asserted that the city possessed nearly P30 billion in reserves when she left office, providing ample financial capacity to fund the agreement through a supplemental budget.
“That’s why there is no basis, and it is indeed just mudslinging when they say that the agreement is one-sided and disadvantageous to Makati,” binay-Campos stated, refuting claims of a disadvantageous deal.
Confidentiality and Transparency Concerns
Addressing accusations that the deal was hidden from Mayor Nancy Binay’s transition team, Binay-Campos cited confidentiality rules as the reason for the delayed disclosure. She countered by accusing the new administration of politicizing the matter, suggesting they could have proceeded with their decision to not continue the settlement without creating public controversy.
“They don’t need to scare people, or give the media distorted or false information,” she remarked, warning that abandoning the agreement could expose Makati to significant legal and financial risks. This includes a potential $1.7-billion arbitration claim from Infradev,stemming from a Supreme Court ruling that reallocated key subway route areas to Taguig City.
financial Implications and Best Option
Binay-Campos highlighted the financial benefits of the settlement, stating, “with the settlement, makati will only release $160 million to end any legal uncertainty on the subway project, and there’s an additional company with net assets of $1.6 billion and full control of the subway projects.” She reiterated her belief that “The settlement agreement is still the best option.”
She further argued that the city government could have managed the agreement’s revision or withdrawal discreetly, without public outcry. “In fact, they could have withdrawn the settlement agreement without having to release it because technically, the negotiations were confidential,” she saeid, implying a political motive behind the public disclosure.
Personal Appeal and Future Outlook
Binay-Campos expressed disappointment that her sister, the current mayor, had not reached out for private clarification if concerns existed. “My sister can just call me, and ask privately if they don’t understand something,” she said, adding, “But it truly seems the people around [Nancy] are not after clarity, but the return of darkness.”
She cautioned that the new administration’s decision to void the agreement and review other public-private partnerships could damage Makati’s reputation within the business community.”The settlement is their prerogative, but they must be prepared for the consequences of their decision,” Binay-Campos warned. ”It’s a waste of the opportunity given by the subway project, to further develop Makati and the welfare of makatizens.”
Concluding with a veiled political challenge, Binay-Campos advised the current administration to “study first,” stating, “I’ll take a break, we’ll just see each other again after three years.”