Joselito Malig

Article (news)

Andrea Taguines

ABS-CBN News

Former Makati City mayor Abby Binay-Campos has fired back at her sister, incumbent Mayor Nancy Binay, on saying she’s only out to smear her legacy with “baseless accusations” in relation to the P9-billion settlement deal with the developer of the foiled Makati subway project. Speaking to the press, the younger Binay countered the current city administration’s statement that the local government of Makati cannot afford to pay the settlement amount since there is no allocation for it in the 2025 budget.The city’s new legal officer also said that they only have P8.4 billion remaining for the rest of this year.“I suggest that the new administration brush up on financial literacy. Hindi dahil wala sa 2025 budget ay walang pera ang Makati para sa settlement. I left city hall with almost P30 billion in the bank. You can always pass a supplemental budget,” said Binay-Campos.“Mag-aral muna sila, magpapahinga muna ako, magkita na lang kami after 3 years,” she said, even hinting at a possible showdown in the 2028 elections.She also dismissed allegations of striking a midnight deal with the contractor, Philippine InfraDev Holdings Inc, and deliberately trying to hide the subway documents from the new mayor’s transition team.According to Binay-Campos, they were bound by confidentiality, which is why they were only able to inform the other camp about the settlement deal once they submitted the documents to the Singapore International Arbitration Centre (SIAC) for approval on June 23, 2025.She added that the approval of the Commission on Audit and City Council is also required before any appropriation of funds for the payment.“Kung tiningnan lang nila sa records ng Office of Sanggunian, makikita nila na merong resolution yung council nung June 20 diba? You just have to do your own research. It’s not for us to spoon feed them,” she said.“Kung tutuusin, pwede naman na i-withdraw nila yung settlement agreement nang hindi nila kailangan ilabas (sa media) because technically confidential nga yung negotiations. It is really para siraan ako, to undermine my legacy— yung 9 years na trinabaho ko bilang mayor,” added Binay-Campos.The Nancy Binay camp has expressed interest to withdraw from the settlement deal.But Binay-Campos also warned her sister about the possible consequences such as having to pay the full $1.7 billion arbitration claim of InfraDev, instead of just $160 million.“The settlement agreement is still the better option— ang ilalabas ng Makati ay $160 million to end any legal uncertainty on the Subway Project. At may dagdag pa na isang kumpanya na may net assets na $1.6 billion at full control ng Subway Project,” she explained.“Pwede naman ako tawagan ni Ate at tanungin privately kung mayroon silang hindi maintindihan,” she even quipped.Another possible negative effect, she said, is that it sends a bad signal to the business community.“Ang gusto ba nilang sabihin ay ayaw nilang magbayad? That we have no intention of paying the partner? That the business community should be wary of having partnerships with the city because baka hindi naman kayo ma-compensate?”Although Nancy’s camp has expressed doubt on whether the settlement deal is really the best option, noting that the previous leadership could’ve tried contesting the contractor’s arbitral claim instead of giving in.“Sabi good deal, for $160 million you can buy the whole company. But you are buying a company that the proponent itself said was economically unfeasible. So is that good for Makati?” said Atty. Christian Lim, who heads the transition team.InfraDev earlier said the Makati intra-city subway project was no longer feasible after the areas where several stations and the subway depot were supposed to build were transferred to the jurisdiction of Taguig City, through a Supreme Court decision.Nancy said she also plans to review the previous Public-Private Partnerships entered into by her sister.But the former mayor warned that this could also create a chilling effect for the private sector.

“Mag-aral muna sila, magpapahinga muna ako, magkita na lang kami after 3 years,” she said, even hinting at a possible showdown in the 2028 elections.

“Mag-aral muna sila, magpapahinga muna ako, magkita na lang kami after 3 years,” she said, even hinting at a possible showdown in the 2028 elections.

Ex-mayor Abby Binay claps back at Nancy’s subway settlement deal allegations

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Ex-mayor Abby Binay claps back at Nancy’s subway settlement deal allegations

Andrea Taguines,

ABS-CBN News

Published Jul 10, 2025 11:57 PM PHT

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Makati subway

Abby Binay

Nancy Binay

Philippine InfraDev Holdings Inc.

settlement deal

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