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In accordance with Section 57 of the CARP, the RTC, sitting as a Special Agrarian Court,
has an original and exclusive jurisdiction over all petitions for the determination of just
compensation to landowners.
With regard to the valuation of the property, the Court held that the trial court should
have allowed the parties to present evidence thereon instead of practically assuming a
valuation without basis.
While market value may be one of the bases of determining just
compensation, the same cannot be arbitrarily be arrived at without
considering he factors to be appreciated in arriving at the fair market value of
the property. (e.g size, shape, location etc)
Verily, the trust account opened by LBP to in the name of Wycoco as the mode of
payment of just compensation should be converted to a deposit account.
The interest earnings accruing on the deposit account of landowners would
suffice to compensate their pending payment of just compensation.
Just compensation due to Wycoco should include a 12% interest/annum from
the time LBP opened a trust account until said account was converted into
cash.
The basis of the 12% would be the just compensation to be determined by the
Special Agrarian Court.
The same shall also be the basis of the interest income on the cash and bond
deposit due to Wycoco.