The Supreme Court denied with finality Cyber Bay Corp.’s appeal for reimbursement for the abandoned Amari reclamation project.
The decision affirmed the Commission on Audit’s ruling in May 2019 that the property transfer was illegal and that Cyber Bay was only entitled to P715 million in compensation.
Cyber Bay’s subsidiary, Central Bay Reclamation and Development Corp., received the SC resolution and would evaluate its impact on their operations and business plans.
In June 2020, the COA rejected Cyber Bay’s motion for reconsideration, prompting the company to elevate the case to the Supreme Court to enforce a 2016 compromise deal with the Philippine Reclamation Authority.
The compromise agreement aimed to transfer 10.2 hectares of property to Cyber Bay’s subsidiary as reimbursement for the P1 billion they invested in the failed project.
However, in April 2022, the Supreme Court declared the compromise agreement void ab initio as it went against the 1987 Constitution, Executive Order No. 292, Administrative Code of 1987, and the Government Auditing Code of the Philippines.
The court also disallowed Central Bay’s money claims except for P714.94 million, which represents advance payment for the reclamation and project development.