BHI said its board of directors accepted the termination of its contract with Revolution Precrafted to jointly build a resort and residential complex in Ternate, Cavite, in a filing to the stock exchange on Thursday.
The explanation for the deal’s cancellation was not issued.
The company’s chief executive officer, Jose Roberto “Robbie” R. Antonio, will resolve his duties with those interested in the contract, according to a spokesperson from Revolution Precrafted’s legal counsel.
On a phone call with BusinessWorld on Friday afternoon, a member of Mr. Antonio’s legal counsel said, “As far as Robbie is concerned, we are not leaving the customers or others who have made reservations.”
Mr. Antonio previously resigned his role as a co-managing director at Century Properties Group, Inc. to settle grievances against Revolution Precrafted Philippines and its subsidiaries from vendors and other parties.