Smarter News Now
  • About Us
  • Privacy Policy
  • Terms & Conditions
  • Contact Us
  • Email Whitelisting
No Result
View All Result
  • Top News
  • Economy News
  • Forex News
  • Investing News
  • Stock News
  • Politics News
  • Editor’s Pick
  • Top News
  • Economy News
  • Forex News
  • Investing News
  • Stock News
  • Politics News
  • Editor’s Pick
No Result
View All Result
Smarter News Now
No Result
View All Result
Home Investing News

Forfeiture of four Marcos properties rejected by court

by
July 26, 2022
in Investing News
0
Forfeiture of four Marcos properties rejected by court
0
SHARES
5
VIEWS
Share on FacebookShare on Twitter
PRESIDENTIAL MUSEUM AND LIBRARY

THE PHILIPPINES’ anti-graft court has dismissed a government lawsuit seeking to recover at least four Marcos properties in the absence of sufficient evidence that these had been illegally obtained.

In a 12-page resolution dated July 22 and made public on Tuesday, the Sandiganbayan Fourth Division said the state had failed to prove its claims “through a preponderance of evidence.”

The court affirmed its December 2019 ruling that rejected the government’s forfeiture case covering the properties still within the Marcos family’s control, including a beach house, guest house and museum in Ilocos Norte province and a house in Manila.

The dismissal covers “properties that allegedly have not yet been recovered by the government,” according to a copy of the decision written by Justice Alex L. Quiroz uploaded on the court’s website.

The court on Dec. 29, 2019 dismissed the government’s forfeiture case against the estate of the late dictator Ferdinand E. Marcos and his family. On July 12 last year, it partially granted the state’s motion for reconsideration.

“The court resolved that a sweeping dismissal of the entire complaint on the ground of the best evidence rule (now original document rule) is not warranted, considering that many of the subject properties have long been recovered by the government,” it said in its latest ruling.

Instead, the anti-graft court ordered the government to submit a list of all the properties covered by the forfeiture lawsuit and their status.

Mr. Quiroz noted that the court had given the state the opportunity to submit further evidence, which it failed to do. In its compliance pleading dated April 25, 2022, the government said all documents and pieces of evidence had been presented during the trial.

Among the ill-gotten assets recovered by the government were shares in Philippine Long Distance Telephone Co. worth P25.2 billion, shares in Philippine Telecoms Investment Corp. worth P25.2 billion, several houses in Baguio City and 526 art pieces now under the custody of the Philippine central bank. — Norman P. Aquino, J.V.D. Ordoñez and K.A.T. Atienza

ShareTweetPin

Related Posts

Stocks decline on profit taking, recession fears
Investing News

Stocks decline on profit taking, recession fears

August 23, 2022
Peso climbs vs dollar as RTB offer starts
Investing News

Peso climbs vs dollar as RTB offer starts

August 23, 2022
PNR cancels bids for 3 projects after finding them ‘non-feasible’
Investing News

PNR cancels bids for 3 projects after finding them ‘non-feasible’

August 23, 2022
Senate grills Rodriguez on approval procedures for sugar import order
Investing News

Senate grills Rodriguez on approval procedures for sugar import order

August 23, 2022
Trade dep’t expecting sugar price monitoring report by Friday
Investing News

Trade dep’t expecting sugar price monitoring report by Friday

August 23, 2022
Fisherfolk seek halt to reclamation on municipal fisheries
Investing News

Fisherfolk seek halt to reclamation on municipal fisheries

August 23, 2022
Next Post
Analysts warn of instability sans anti-graft drive

Analysts warn of instability sans anti-graft drive

Get the daily email that makes reading the news actually enjoyable. Stay informed and entertained, for free.
Email Address *
Your information is secure and your privacy is protected. By opting in you agree to receive emails from us. Remember that you can opt-out any time, we hate spam too!
 

Recommended

Legislator calls for standards to guide agri import decisions

Legislator calls for standards to guide agri import decisions

August 17, 2022
Lawmaker seeks  investigation of  ‘no-contact’ policy

Lawmaker seeks investigation of ‘no-contact’ policy

August 16, 2022
Investing in the country’s transition into a circular economy

Investing in the country’s transition into a circular economy

June 10, 2022
Semirara Mining’s earnings climb to nearly P11 billion

Semirara Mining’s earnings climb to nearly P11 billion

August 3, 2022
Employers use bumper bonuses to lure workers

Employers use bumper bonuses to lure workers

July 25, 2022
Apple dives deeper into autos with software for car dashboard

Apple dives deeper into autos with software for car dashboard

June 7, 2022
  • About Us
  • Privacy Policy
  • Terms & Conditions
  • Contact Us
  • Email Whitelisting

Copyright © 2022 SmarterNewsNow.
All Rights Reserved.

Disclaimer: SmarterNewsNow.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice.
The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

No Result
View All Result
  • About Us
  • Contact Us
  • Email Whitelisting
  • Home
  • Privacy Policy
  • Terms & Conditions
  • Thank You

Copyright © 2020 SmarterNewsNow. All Rights Reserved.