A letter to the editor

02 April 2012
Managing Editor
Ground Floor, National Press Club Bldg.
Intramuros, Manila

Dear Ms. Bueno:

We refer to the headline news of Remate’s publication of April 2, 2012, entitled “P7M ini-release sa pekeng foundation LBP SCAM BUKING” which is purportedly written by the Remate Investigative Team.

Please note our comments and observations on the releases news item.

1. Referring the DAREFI as a fake foundation is indeed lamentable, it being utterly false and malicious.

The DAREFI is a legitimate entity duly organized and existing under the laws of the Philippines. It is registered as a non-stock, non-profit corporation with the Securities and Exchange Commission with Certificate of Registration No. CN 199814554 and has been operating as such since its establishment in 1998. Ms.Antonia H. Pascual, president of the DAREA (DAR Employees Association), is one of its incorporators and has been serving as Corporate Secretary until 2005 when she was elected President of the DAREA. DAREFI’s operations and activities are legal and made within the ambit of its corporate powers and authorities.

It is unfortunate that Remate Investigative Team has apparently failed to get the side of the DAREFI before even releasing the headline news, which has unduly ruined and damaged the name and reputation of the Foundation. Had the Team taken a little time to take the side of the DAREFI, it would have been easy to find that DAREFI is never a fake foundation as the news item has erroneously, if not, malicious, projected to the public.

We therefore demand, for the sake of truth and justice, that the same be rectified.

2. The loans being contracted by the DAREFI with the Land Bank of the Philippines are legal and all above-board.

The DAREFI, as a corporate entity, has the power and authority to contract loans with the Land Bank of the Philippines or any financial institution for that matter.

No employee of the DAR, as mentioned in the news item, has ever contracted for a loan with the LBP. Rather, it is the DAREFI who borrowed money from the LBP that the privity of contract lies only and solely between them. It is never a scam. It is legal, valid and above-board.

Please be advised that the contract stipulations between the DAREFI and the LBP include the assignment to the LBP of receivables due the DAREFI on a rediscounting arrangement. Among those receivables are loans contracted by DAR employees, while admittedly members of the DAREA, are also subscribers and/or members of the Foundation who have availed to the programs and services that it offers. Otherwise, these DAR employees coult not have contracted loans with the Foundation.

The loans extended by the LBP to the DAREFI have been dutifully paid for as they come due. Unfortunately, there had been a few delays in the payment of the loan amortizations due to Ms. Antonio H. Pascual’s relentless effort to stop the collection of the employee’s loan obligations. As a matter of fact, Ms. Pascual, together with a co-DAREA officer, Gloria Almazan, is under writ of execution by the Regional Trial Court Sheriff of Quezon City in connection with her loan obligations to the DAREFI which has remained unpaid. Since her assumption to the office as DAREA President in 2005, Ms. Pascual has almost done nothing but to subject the DAREFI to public humiliation and ridicule through false, malicious, baseless and unfounded accusations, cleverly using the media in the process.

It must be said that Ms. Antonia H. Pascual has been craving, moving heaven and hell, to get the DAREFI top’s post. Past and recent events would show the maneuverings and machinations made by Ms. Pascual, including the filing of baseless and totatlly unfounded cases, if only to materialize her ambitions. The DAREFI would have gladly enumerated and explained to the Remate Investigative Team the matter had they given DAREFI the opportunity to do so.

Ms. Pascual has never succeeded with her plans in trying to gain control over the DAREFI. Apparently, due to her failure and frustrations, Ms. Pascual has gone berserked, going to the unsuspecting media and fabricating all the lies she could have imagined, if only to destroy the DAREFI.

And now, Ms. Antonia H. Pascual has apparently succeeded in discrediting, maligning and perhaps destroying the DAREFI, and Ms. Violeta M. Bonilla, in particular, by conveniently using your publication. We only wish that Remate Investigative Team and the Editorial Staff would have been fair and impartial, if not objective, in treating the matter, more so, when the same seeks or tends to destroy one’s reputation.

Again, the DAREFI is not a fake foundation. It is a legitimate, a duly registered corporation operating within the bounds of law. The loans that is contracted with the LBP are all legal and above-board.

For the sake of truth, justice and fairness, we hope this letter will find the appropriate space in your publication.

Thank you.

Very truly yours,


Legal Counsel-DAREFI

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