Sandigan returns P200 M seized from Marcos crony
Rosalinda L. Orosa (The Philippine Star) - July 16, 2008 - 12:00am

MANILA, Philippines – The Sandiganbayan has returned to the estate of Hans Menzi more than P201 million seized by the government on suspicion that they were part of the ill-gotten wealth of the late President Ferdinand Marcos.

In 1987, the Presidential Commission on Good Government (PCGG) forfeited the certificates of time deposit containing the money.

In resolutions last Jan. 17 and May 22, the anti-graft court’s fourth division ruled that the Menzi estate and the Hans Menzi Holdings and Management Inc. are entitled to recover the money because there was no proof that the disputed bank deposits were ill-gotten.

“Clearly, plaintiff Republic has no vested rights of said assets and to deliver the same to them will be highly irregular and decidedly unjust,” read the court’s decision.

The time deposits contained the proceeds of the sale of 154,476 Manila Bulletin shares in 1985 constituting legitimate assets belonging to Menzi, the court added.

Last July 8, Sandiganbayan sheriffs Reynaldo Melquiades and Albert dela Cruz handed to lawyer Manuel Montecillo, Menzi estate executor, two bank manager’s checks for P39,157,519.88 and P161,977,558.29.

The amount of P4,022,781.55 went to the Sandiganbayan-Judiciary Development Fund and another P2,011,370.78 to the Sandiganbayan-Special Allowance for Justices and Judges Fund as the court’s legal percentage for the turnover of civil judgments to the winning party, Dela Cruz added.       – Edu Punay

DELA CRUZ EDU PUNAY GOOD GOVERNMENT HANS MENZI HANS MENZI HOLDINGS AND MANAGEMENT INC JUSTICES AND JUDGES FUND LAST JULY MANILA BULLETIN MENZI
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