Boulevard Holdings, Inc. (BHI) is ending its partnership with embattled start-up Revolution Precrafted Philippines, Inc. for a project in Cavite.
In a disclosure to the stock exchange, BHI said its board of directors on Thursday approved the cancellation of its deal with Revolution Precrafted to jointly develop a resort and residential complex in Ternate, Cavite.
No reason was given for the cancellation of the deal.
However, a representative from the legal counsel of Revolution Precrafted said the company’s chief executive officer Jose Roberto “Robbie” R. Antonio will settle his obligations with those involved in the deal.
“As far as Robbie is concerned, we are not abandoning the buyers or those that have made reservations,” a member of Mr. Antonio’s legal counsel said on a phone call with BusinessWorld on Friday afternoon.
Mr. Antonio previously left his role as a co-managing director at Century Properties Group, Inc. to resolve complaints made by suppliers and other parties against Revolution Precrafted Philippines and its subsidiaries. — Keren Concepcion G. Valmonte