In a statement, Bitanga said Dolores Potenciano had sold to BMB the entire holdings of the Potenciano family, representing 47 . 98 % of the bus company's stocks and that the sale was perfected through a Deed of Absolute Sale executed on Oct . 28, 1997.
12.
According to reports reaching the LAMMP headquarters, a Deed of Absolute Sale dated Nov . 3, 1997 appears to show that the local government, through Lapid, bought the two parcels of land for P104 million while another similar document indicates that the very same property was sold for only P30 million.
13.
Bitanga said Potenciano cannot just rescind a perfected Deed of Absolute Sale without due process, especially after money has changed hands as he claimed that Potenciano herself received some P11 million which was part of the P34, 743, 364 which was to be remitted by BMB to Allied Bank to retire some of BLTB's outstanding debts.
