Supreme Court Associate Justice Antonio Carpio is apprehensive over the Chico River irrigation loan agreement between the Philippines and China, saying the latter could seize oil and gas-rich Philippine assets in the West Philippine Sea if the former defaulted on payment. “In case of default by the Philippines in the repayment of the loan, China can seize, to satisfy any arbitral award in favor of China, patrimonial assets and assets dedicated to commercial use of the Philippine government,” Carpio told reporters. There was no immediate reaction from Malacañang or any government agency that has anything to do with the 20-year loan, signed by Finance Secretary Carlos Dominguez and Ambassador to the Philippines Zhao Jian Jua on April 10, 2018.

SC Justice fears Sino takeover of PH assets. (2019, March 24). Manila Standard, p. A2.