PCGG vows to recover all Marcos ill-gotten wealth
06/14/2008 | 06:01 PM
MANILA, Philippines - The Presidential Commission on Good Government (PCGG) vowed Saturday to recover all the alleged ill-gotten wealth of the late president Ferdinand Marcos and his family.
PCGG information director Nick Suarez said the PCGG is inspired by the recent ruling of the US Supreme Court dismissing the claims of the 10,000 human rights victims of Marcos atrocities to the $35-million NY brokerage account of Marcos at the Meryll Lynch and Co.
Suarez said the US Supreme Court’s decision is a victory of the PCGG and the Filipino people.
He said the US Supreme Court decision would pave the way for the Philippine recovery of such account.
“This victory is not just a victory of the PCGG but of the entire Filipino people as the recovery of the $35 million would be used as additional funding for anti-poverty programs of the government and economic development. This accomplishment would all the more serve to drive the Commission to pursue vigorously the recovery of more ill-gotten assets and the resolution of cases, both local and foreign," a statement of the PCGG said.
“We, at the PCGG remained totally confident that the US Supreme Court will side with the arguments put forward by the Philippine government under the foreign sovereign immunities act," the PCGG said.
The PCGG said the US Supreme Court’s ruling has given more weight to the government’s position that invoked sovereign immunity, the doctrine that bars legal proceedings against a government without its consent.
In an earlier interview, Akbayan Rep. Loretta Anne “Etta" Rosales, a member of the Claimants 1081 movement, said the US Supreme Court erred in not recognizing the pieces of evidence that were recognized by the US District Court and the US Court of Appeals (CA), which recognized their right to claim compensation from Marcos’ $35 million NY brokerage account at Meryll Lynch and Co.
Rosales said both the Philippine government and the 10,000 human rights victims of Marcos atrocities lost with the US Supreme Court decision.
“The decision of the US Supreme Court did not say that it is awarding the forfeiture of the $35 million NY brokerage account of Marcos at Meryll Lynch and Company to the Philippine government. It merely remanded the case back to the lower court. We have strong pieces of evidence and we will just reiterate them to the US court. The Philippine government merely succeeded in blocking the human rights victims from getting the compensation from Marcos’ account in NY brokerage that are due them," Rosales said.
Earlier, the Ninth Circuit of Appeals in California sided with the claims of the 9,539 human rights victims to use the $35 million Arelma account as partial payment for the $2 billion judgment in US court against the Marcos estate over human rights abuses committed during his 20-year rule.
Marcos set up the account at Meryll Lynch in New York in 1972, using as dummy a Panamanian corporation named Arelma Foundation, Inc. with a $2 million deposit.
The account has since grown to more than $35 million.- GMANews.TV
PCGG information director Nick Suarez said the PCGG is inspired by the recent ruling of the US Supreme Court dismissing the claims of the 10,000 human rights victims of Marcos atrocities to the $35-million NY brokerage account of Marcos at the Meryll Lynch and Co.
Suarez said the US Supreme Court’s decision is a victory of the PCGG and the Filipino people.
He said the US Supreme Court decision would pave the way for the Philippine recovery of such account.
“This victory is not just a victory of the PCGG but of the entire Filipino people as the recovery of the $35 million would be used as additional funding for anti-poverty programs of the government and economic development. This accomplishment would all the more serve to drive the Commission to pursue vigorously the recovery of more ill-gotten assets and the resolution of cases, both local and foreign," a statement of the PCGG said.
“We, at the PCGG remained totally confident that the US Supreme Court will side with the arguments put forward by the Philippine government under the foreign sovereign immunities act," the PCGG said.
The PCGG said the US Supreme Court’s ruling has given more weight to the government’s position that invoked sovereign immunity, the doctrine that bars legal proceedings against a government without its consent.
In an earlier interview, Akbayan Rep. Loretta Anne “Etta" Rosales, a member of the Claimants 1081 movement, said the US Supreme Court erred in not recognizing the pieces of evidence that were recognized by the US District Court and the US Court of Appeals (CA), which recognized their right to claim compensation from Marcos’ $35 million NY brokerage account at Meryll Lynch and Co.
Rosales said both the Philippine government and the 10,000 human rights victims of Marcos atrocities lost with the US Supreme Court decision.
“The decision of the US Supreme Court did not say that it is awarding the forfeiture of the $35 million NY brokerage account of Marcos at Meryll Lynch and Company to the Philippine government. It merely remanded the case back to the lower court. We have strong pieces of evidence and we will just reiterate them to the US court. The Philippine government merely succeeded in blocking the human rights victims from getting the compensation from Marcos’ account in NY brokerage that are due them," Rosales said.
Earlier, the Ninth Circuit of Appeals in California sided with the claims of the 9,539 human rights victims to use the $35 million Arelma account as partial payment for the $2 billion judgment in US court against the Marcos estate over human rights abuses committed during his 20-year rule.
Marcos set up the account at Meryll Lynch in New York in 1972, using as dummy a Panamanian corporation named Arelma Foundation, Inc. with a $2 million deposit.
The account has since grown to more than $35 million.- GMANews.TV
