The Government Service Insurance System (GSIS) enters into a Compromise Agreement with the city government of Baguio, paving way for the turnover of the Baguio Convention Center in favor of the latter for P200.2 million. The agreement also settles all other claims and counterclaims of the parties arising from the ejectment suit including the claim of Baguio City for overpayment of premiums for the years 1996 to 1997.
Present during the signing ceremonies are: (from left) Atty. Melchor Rabanes, Baguio City Legal Officer; Congressman Bernardo Vergara; GSIS President and General Manager Robert G. Vergara and Baguio City Mayor Mauricio G. Domogan. GSIS Chief Legal Counsel Estrella Elamparo and Mr. Joseph Phillip Andres, GSIS VP for Business Recovery and Accounts, (at the back) are also present during the event.