Sandiganbayan orders implementing SC ruling on coco levy funds for farmers

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Sandiganbayan orders implementing SC ruling on coco levy funds for farmers

Adrian Ayalin,

ABS-CBN News

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MANILA—A Sandiganbayan division has ordered the transfer of coco levy funds from Coconut Industry Investment Fund companies (CIIF), 14 holding companies and converted San Miguel Corp. shares totaling 753,848,312 shares, to the government so that the funds can be used to benefit coconut farmers.

The anti-graft court's second division granted the motion for reconsideration filed by the Presidential Commission on Good Government (PCGG), which stated that the Sandiganbayan has no discretion to stay the enforcement of the partial summary judgment of the Supreme Court dated May 7, 2004.

The CIIF companies are:

  • Southern Luzon Coconut Oil Mills,
  • Cagayan De Oro Oil Co., Inc.,
  • Iligan Coconut Industries, Inc.,
  • San Pablo Manufacturing Corp. and;
  • Legaspi Oil Co., Inc.;

The holding companies are:

  • Soriano Shares Inc.,
  • ACS Investors Inc.,
  • Roxas Shares Inc.,
  • Arc Investors Inc.,
  • Toda Holdings Inc.,
  • AP Holdings Inc.,
  • Fernandez Holdings Inc.,
  • SMC Officers Corps., Inc.,
  • Anglo Venture Inc.,
  • Randy Allied Ventures Inc.,
  • Rock Steel Resources Inc.,
  • Valhalla Properties Ltd., Inc. and,
  • First Meridian Development Inc.

In the partial summary judgment, the Supreme Court said the 6 CIIF companies, the 14 holding companies, and the converted SMS shares are declared “owned by the government to be used only for the benefit of all coconut farmers and for the development of the coconut industry.”

In the resolution of the Sandiganbayan, the PCGG, the Bureau of Treasury, the Governance Commission for Government Owned and Controlled Corporations and the Office of the Solicitor General are directed to “immediately and without further delay cede, transfer, convey and/or reconvey title to the plaintiff Republic of the Philippines of the shares of stock in the 6 CIIF companies and 14 CIIF holding companies, as well as deposit money and funds constituting the coconut levy or accruing from the coconut levy assets in the Special Account int he General Fund for Coco Levies with the Bureau of Treasury with respect to the 753,848,312 Converted SMC Series 1 Preferred Shares.”

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The resolution was ordered by Associate Justice Michael Frederick Musngi, with the concurrence of division chairperson Oscar Herrera and Associate Justice Lorifel Pahimna.

The coco levy funds, estimated to be worth P75 billion, came from taxes collected from coconut farmers during the administration of former President Ferdinand Marcos.

The Sandiganbayan also said in its resolution that a writ of partial execution be issued to implement the Supreme Court decision on December 10, 2014, which affirmed the 2004 partial summary of judgment “finding that the CIIF companies, the 14 holding companies and the CIIF block of SMC shares are owned by plaintiff Republic of the Philippines.”

The anti-graft court reversed its December 29, 2017, resolution, which gave the United Coconut Planters Bank (UCPB) and United Coconut Planters Life Assurance Corp. (Cocolife) to define and clarify and their legal disposition in the case.

The PCGG, however, said the attempts of the UCPB and Cocolife can be considred “forum shopping” as there are no more judgments to be rendered in the case following the decisions of the Supreme Court.

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