December 10, 2024 | 5:57pm
MANILA, Philippines — The Sandiganbayan has dismissed an ill-gotten wealth case involving the late President Ferdinand Marcos Sr., former First Lady Imelda Marcos and the late businessman Eduardo Cojuangco Jr.
In a 34-page decision dated December 6, the anti-graft court granted the government’s motion to withdraw two civil cases involving illegally acquired wealth by Cojuangco and the Marcoses.
The anti-graft court’s decision followed the government’s withdrawal of the cases, citing ongoing negotiations for a compromise agreement with the case’s complainant-in-intervention, Subic International Air Charter.
Despite the withdrawal, one of the cases will “remain active” until Subic International Air Charter’s final disposition.
One of the cases alleged that Cojuangco, in collusion with the late President Marcos, Imelda Marcos and other individuals, was involved in the “anomalous purchase” of the First United Bank, now known as the United Coconut Planters Bank.
The complaint seeks the return or reconveyance of 72.2% of UCPB’s outstanding capital stock, claiming it is held in “constructive trust for the plaintiff Republic and the Filipino people.”
“It also contains a prayer for actual, moral, temperate, nominal, and exemplary damages, attorneys’ fees, litigation expenses, and triple judicial costs,” the anti-graft court’s ruling read.
The other case alleged that Cojuangco and his associates took advantage of “his association, influence, and connections, and, in concert with the individual defendants,” unlawfully used the Coco Levy Funds to purchase shares of stock in San Miguel Corporation.
“It further alleges that SMC began to receive favors from the Marcos government, such as the lowering of excise taxes on beer. Despite this, the complaint does not impute any particular acts upon defendants Imelda R. Marcos, Ferdinand E. Marcos, and Danilo Ursua in relation to these transactions other than the allegation of conspiracy,” the ruling read.
The government contended that the Supreme Court had already dismissed both cases with finality, which led to its decision to withdraw the remaining claims for damages.
“To recall, in Civil Case No. 0033-A, the UCPB shares of stock have been conclusively declared to be property of plaintiff Republic by virtue of Cojuangco, Jr. v. Republic 54 and COCOFED, et al. v. Republic. 65 The only issues that remain are the claims for damages by the Republic as against the defendants and the intervention of intervenor Subic Air,” the Sandiganbayan’s decision read.
“In Civil Case No. 0033-F, the issue regarding the CIIF block of SMC shares has been conclusively resolved in favor of plaintiff Republic in COCOFED, et al. v. Republic 56 On the other hand, the Cojuangco Corporations block of SMC shares has been conclusively declared property of the registered owners and not of the Republic in Republic v. Sandiganbayan. 67 Thus, the only issue that remains is plaintiff Republic’s claim for damages anent the CIIF block of SMC shares, considering that it failed to prove its cause of action regarding the Cojuangco Corporations block of shares,” it added.
The anti-graft court considered the government’s motion a withdrawal in accordance with Section 2, Rule 17 of the Rules of Court.
“Plaintiff Republic clearly and unequivocally states that it will no longer pursue the claims for damages in these cases. It is a hornbook rule that it is not the caption of a pleading but the allegations thereat that determines its nature,” the court stated.
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