Supreme Court Senior Associate Justice Antonio Carpio and Presidential Spokesperson Salvador Panelo were in disagreement whether or not oil and gas in the Reed Bank (Recto Bank) are classified as patrimonial assets that could be taken over by China in case the Philippines defaults in its loan payment.
After the second-most senior magistrate pointed out that a law allows oil and gas converted by a service contract to be sold domestically or for export, the Cabinet official relented on Wednesday, but maintained that Carpio was “unpatriotic.” The justice merely laughed the accusation off.
Panelo twits ‘unpatriotic’ Carpio over China loan warning
Carpio laughs off Panelo’s ‘unpatriotic’ tag
Panelo, Justice Secretary Menardo Guevarra, and officials from the Department of Finance also asserted that the Philippines will not renege on its payment and thus won’t lose patrimonial property.
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