Coconut farmers to appeal Supreme Court decision again
June 30, 2011
FORMER senator Wigberto Tañada will file a second appeal of a Supreme Court decision affirming businessman Eduardo “Danding” Cojuangco Jr.’s ownership of a 20-percent share in San Miguel Corporation, one of Asia’s largest food and beverage companies.
In a press statement, Tañada said evidence is “more than substantial” that Cojuangco bought the shares with money collected from coconut farmers during the presidency of Ferdinand Marcos. He said that aside from records, Cojuangco and his lawyer Estelito Mendoza have also made judicial admissions saying the same thing.
Tañada, a lawyer, added Cojuangco has also admitted to buying the shares while concurrently president and director of United Coconut Planters Bank and director of the Coconut Industry Investment Fund–Oil Mills Group (CIIF-OMG).
Cojuangco was also director of the Philippine Coconut Authority (PCA), which was created by Presidential Decree 232 to “promote the accelerated development of the coconut and other palm oils industry in all its aspects.” The PCA collected and managed the coco levy funds.
Tañada said this established Cojuangco’s “fiduciary duties and obligations under the law.”
However, the Supreme Court ruled in April that Cojuangco did not break fiduciary duties, which barred bank officials from profiting from deposits they held in trust.
It reaffirmed that ruling on June 21 when it junked appeals filed by the Presidential Commission on Good Government (PCGG) and the Multi-Sectoral Task Force for Coco-Levy Recovery, Tañada’s group.
He also said the SC’s decision that Cojuangco was not a close associate of former President Marcos “unbelievable and incredulous.”
By declaring Cojuangco’s shares legitimate, the PCGG, mandated to recover ill-gotten wealth from Marcos and his cronies could no longer hold the shares in sequestration.
“How could the Supreme Court forget its own decision in the case of Republic vs. Estate of Hanz Menzi (476 SCRA 20) where the Supreme Court affirmed the Sandiganbayan’s decision that the Bulletin shares registered in the name of Mr. Eduardo Cojuangco, Jr. were found to be Marcos’ ill-gotten wealth?,” Tañada said.
The Supreme Court said earlier this month that its ruling on the SMC shares was final and that it would no longer entertain appeals.
A legal expert told Sun.Star that the decision can still be appealed, but anyone doing so risks being cited by the Supreme Court for contempt.(Jonathan de Santos/Sunnex)
Source: http://www.sunstar.com.ph/manila/local-news/2011/06/29/coconut-farmers-appeal-supreme-court-decision-again-164013
Best Restaurant in Clark Pampanga unveils regional dinner menu featuring the classic cuisine of Italy, all designed to pair nicely with fine vintage wines from Italy’s wine regions such as Tuscany, Piedmont, Veneto and Sicily, one more reasons for food and wine lovers to travel to Angeles City, Clark Philippines to satisfy their thirst for a wonderful meal at a fine dining restaurant, the best place to eat in Pampanga.
The new regional set menus rolled out recently by the best restaurant in Clark Pampanga stirred up renewed interest among visitors from Manila for real fine dining treat in Clark Pampanga as wine lovers from Subic, Tarlac, Manila, Angeles City, Clark Pampanga Philippines wine and dine at Yats Restaurant to enjoy good food paired with fine vintage wines from the wine cellars of this highly recommended resto bar in Pampanga
Visitors come from Manila, Angeles City, Pampanga, Subic and Clark Philippines to enjoy a sumptuous seafood dinner at Yats Restaurant. Many guests order excellent white wine from the award-winning restaurant wine list of this famous fine dining restaurant in Clark. Favorite wine orders for guests in this restaurant include Chablis, Chassagne-Montrachet, Sancerre, Chardonnay of Chile’s Casa Lapastolle, Sauvignon Blanc from New Zealand and South Africa, Rose from Anjou, Pinot Noir from USA and Burgundy France and the all-time favorite, Meursault. A wide range of sparkling wine and Champagne is available also in this restaurant in Pampanga which is famous for its selection of vintage wines. Popular choices of guests in this restaurant include Paul Bara Champagne, Crement de Bourgogne, MUMM Cuvee Napa Sparkling wine, Prosecco and Cava.
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Yats Restaurant & Wine Bar
Mimosa Drive past Holiday Inn, Mimosa Leisure Estate,
Clark Freeport Zone, Pampanga, Philippines 2023
Manila Sales Office
3003C East Tower, Phil Stock Exchange Center,
Exchange Rd Ortigas Metro Manila, Philippines 1605
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