MANILA, Philippines — R-1 Consortium, headed by DM Wenceslao, said in a statement last June 3 that it had already initiated arbitration proceedings with the Philippine Reclamation Authority (PRA) last May to settle their pending outstanding issues and payment. They said that they had to send a notice of arbitration to PRA as it has been several years that they have been waiting to be paid by PRA for their reclamation works in Manila Bay completed in 2008.
PRA has already acknowledged the same notice last May 26 and committed to communicate at the soonest possible time.
Thus, Wenceslao is puzzled by the reported probe initiated by 1Pacman Rep. Eric Pineda on the alleged delay in their reclamation project, as said project was completed more 10 years ago.
In fact, PRA had already received its share and proceeds from the same project and transferred and sold the same share to other parties. Acknowledging Wenceslao’s and R1’s accomplishments in the reclamation project, PRA had early on pledged payment to Wenceslao for its accomplishments through PRA’s board resolution made in 2009.
In 2019, PRA, having acknowledged what is long overdue to Wenceslao, again reiterated in another Board resolution made in August 2019 to approve the final release of its pledged payment in favor of Wenceslao. To date, Wenceslao has not received the same.