Menorca:

International:

Having gone through the C&P debt default in 1999 and heavily criticized for the shabby treatment to its creditors up
to 20071, It was a surprisingly warm welcome again for Manny Villar in the Capital Markets having successfully raised
offshore funds in 2015 for VLL2.

Although VLL appear to be still far away from managing its debt obligations shown on its early redemption of bonds3
and further seeking of local funds through retail bonds for its expansion needs.4

Natural:

While some of the Camella Homes development have conversion orders from DAR, others are still being legally
fought by small-scale farmers struggling against land grabbing such as that of Lumina Plaridel Bulacan.5

1 http://www.financemanila.advfn.com/2010/05/the-camella-and-palmera-homes-bond-default-of-the-90s/

2 http://business.inquirer.net/168967/villars-vista-land-returns-to-offshore-bond-market
http://www.manilatimes.net/vista-land-raises-125m-from-new-dollar-notes/241815/

3http://bworldonline.com/content.php?section=Corporate&title=Vista-Land-buys-back-65-M-in-notes&id=134217

4 http://www.gmanetwork.com/news/money/companies/618314/vista-land-prices-p5b-bond-offer/story/

5 https://focusweb.org/content/villar-backed-illegal-land-conversions-threaten-former-constitutional-commissioner-s-farm
http://news.abs-cbn.com/nation/04/12/10/how-villar-built-business-empire-deceit-corruption-ex-lawyer