This project was started more than 20 years ago, way back in late 1989 when some community leaders decided to raise funds to put up what was then known as the Filipino Multi-Purpose Centre (MPC). The project was fully supported by the Filipino Catholic Organization of Sydney (FILCOS). <\/p>\n
Somehow, the MPC Board decided to change the name to Philippine Australian Cultural Centre (PACC) although management has remained in the hands of the Philippine Australian Community Foundation, Inc. (PACF).
\nFr. Renato Paras who will soon be retiring as Parish Priest of St. Aidan\u2019s Church in Rooty Hill signed the original Trust Deed as Settlor. However, the former Filipino Chaplain has not been very active in the management and activities of MPC. <\/p>\n
The original property in Rooty Hill was eventually sold for around $750,000 less agent\u2019s commission. The proceeds were used to pay for a 5.5 acre property in Schofields at a cost of $1,150,000. <\/p>\n
They had to borrow $300,000 from Tess Lopez to cover the shortfall and again from Stacks Managed Investment Ltd at an undisclosed interest rate. The loan from Tess Lopez was eventually paid but beyond promised date.<\/p>\n
It has been reported but unverified that $200,000 had been borrowed from Mansueto Villon plus another $100,000 from Moises and Maria Joven del Mundo, both of whom have a caveat on the property. <\/p>\n
Reports of bankruptcy <\/p>\n
During a recent meeting of the PACF board, one director was reported to have suggested that bankruptcy be declared. The suggestion was made apparently because of difficulty being encountered in servicing the loans. Mere mention of the word \u2018bankrupt\u2019 spread like wildfire and has blown out of proportions. A search made with the Insolvency and Trustee Service Australia (ITSA) revealed that no such declaration has so far been made by MPC, PACC or PACF. As of press time, it is not correct to entertain such reports that the MPC is bankrupt. <\/p>\n
Reports of property sale<\/p>\n
There were also reports that half of the Schofields property has been sold. While it may be true that partial sale is being considered, a title search indicates that the property is still intact. <\/p>\n
According to a real estate agent, an adjacent lot of lesser dimensions in Schofields has a current market value of $2 million. If that is true, then MPC which measures 5.5 acres should not be sold for less than the quoted amount. However, prior to any intended sale, the Filipino Community who are the original stakeholders, including the Community Relations Commission (CRC) should be consulted. It is on record that CRC approved grants totaling $110,000.<\/p>\n
It appears that only Mansueto Villon and Luz Tiqui are making decisions for MPC. This renders questionable the actions taken so far for the foundation and is against the provisions stipulated in the PACF Trust Deed. <\/p>\n
A copy of the title search is reproduced on this page. This project was started more than 20 years ago, way back in late 1989 when some community leaders decided to raise funds to put up what was then known as the Filipino Multi-Purpose Centre (MPC). The project was fully supported by the Filipino Catholic Organization of Sydney (FILCOS). Somehow, the MPC Board decided to change […]<\/p>\n","protected":false},"author":5,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"ngg_post_thumbnail":0,"footnotes":""},"categories":[19],"tags":[],"_links":{"self":[{"href":"https:\/\/www.philippinesentinel.org\/index.php?rest_route=\/wp\/v2\/posts\/1432"}],"collection":[{"href":"https:\/\/www.philippinesentinel.org\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.philippinesentinel.org\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.philippinesentinel.org\/index.php?rest_route=\/wp\/v2\/users\/5"}],"replies":[{"embeddable":true,"href":"https:\/\/www.philippinesentinel.org\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=1432"}],"version-history":[{"count":0,"href":"https:\/\/www.philippinesentinel.org\/index.php?rest_route=\/wp\/v2\/posts\/1432\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.philippinesentinel.org\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=1432"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.philippinesentinel.org\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=1432"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.philippinesentinel.org\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=1432"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}
\n\u2013 Dino Crescini <\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"