Sandiganbayan bars Marcoses from retaking forfeited assets

 

Marcos family cannot bring to the court the issue of ownership. 

In a 40-page resolution dated January 25, the court’s Third Division said the family of President Ferdinand Marcos Jr. cannot regain control of all the forfeited wealth, including companies and land holdings, earlier surrendered in favor of the government.

To remove any confusion, the court declared that properties “already recovered, transferred to third persons not included in the case, or have become the subject of court decisions and compromise agreements” are already considered moot and academic. 

The resolution also listed the following shares and properties “beyond the reach” of the Marcos family: 

• Stocks in Marcopper Mining uder the IRC Group of Companies (ceded to the PCGG)

526 pieces of art collections (under Bangko Sentral ng Pilipinas)

• 111,415 PLDT shares sold in 2006 for P25.2 billion

• Independent Realty Corporation’s 30% stake in Philippine Integrated Meat Corp sold for 100 million in 2019

• Marcoses’ P934.915 million and $8.002 million deposits at Security Bank and Trust Company

• Several real properties in Baguio City (JY Campos lot, Banaue Inn, Hans Menzi Compound, and Fairchild Compound)

• A parcel of land in Mariveles, Bataan sold for P144 million in 2000

• Properties released from sequestration after a compromise deal with former Ambassador Roberto Benedicto (including Celebrity Sports Plaza, Hacienda Cambio, Hacienda Casmisana, Hacienda Colisap Hacienda Consuelo, Hacienda de Fuedo, Hacienda Lonoy, Hacienda Nahalin, and Hacienda Sivellana-Binubuhan in Negros Occidental)

• Media outfits surrendered to the government: RPN, Banahaw Broadcasting Corp, IBC TV, and radio stations all located at the Broadcast City in Diliman, Quezon City.

• 46,626 shares in Manila Bulletin in the name of the late businessman Eduardo Cojuangco Jr. declared as ill-gotten wealth in 2002

• P55 million in cash deposited in a Philippine National Bank Trust Account

• The Coconut Palace Condominium units at Legaspi Towers

• An RP-C 28 Islander aircraft 

Meanwhile, the following properties remain under the Marcos family’s control: 

• Currimao Beach House in Ilocos Norte

Olot Rest House in Leyte

• House and lot in Pandacan, Manila

• Batac Museum

• Batac Guest House 

Sources: 

– Rappler.com

– malaya.com.ph 

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References: 

https://www.rappler.com/nation/sandiganbayan-decision-marcoses-retaking-forfeited-assets/?utm_medium=Social&utm_campaign=SocialFlow&utm_source=Facebook

https://malaya.com.ph/news_news/marcos-family-barred-from-retaking-forfeited-surrendered-assets/

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