THE Presidential Commission on Good
Government (PCGG) will file a motion for reconsideration of the
Singaporean High Court decision junking the Philippines' earlier
petition claiming the remaining $25 million of the $687 million
Marcos Swiss deposits held in escrow since 2004.
PCGG commissioner Narciso Nario said the
motion will be filed by their foreign lawyers. He said they will
provide additional substance to their claim that the money
should be transferred to the Philippine government's custody and
not to the 10,000 Marcos martial law victims grouped under
Claimants 1081.
"This is not a setback. The case is still
going to be heard. It's not yet over. We will continue to fight
for this," Nario said.
In effect, the Singaporean court's decision
means that all claimants - including shell companies acting as
front organizations for the Marcoses - will continue to fight
over the remaining funds in what is known legally as
interpleader proceedings.
Nario said the ruling of the Philippine
Supreme Court on July 15, 2003 that the $687 million was
ill-gotten and should be forfeited in favor of the government
should have been enough basis to end all debate and award it to
the government. US District Court Judge Manuel Real, however,
dismissed the SC decision two months later, ruled in favor of
Claimants 1081 and blocked the money's transfer to the
Philippine government, threatening to cite for obstruction of
justice anyone who would do so.
In 2006, Singapore's appellate court barred
the government from withdrawing the remaining balance of $25
million based on Real's decision.
The Singapore branch of German bank WestLB AG
where the $25 million is deposited has refused to hear any
claims until a Singaporean court decides on who should get the
money.
The martial law victims represented by
American lawyer Robert Swift and Filipino counsel Rodrigo
Domingo welcomed the Singapore court's ruling junking the
Philippine government's sovereign immunity defense. Domingo said
the case will now be tried on its merits and the Philippine
government will now have to prove that it is entitled to the
money, otherwise the martial law victims will get their original
jury award of US$4.75 billion, including accrued interest.
"Despite its expenditure of over $1 million in legal fees and
the engagement of Singapore's largest and most influential law
firm, (the Philippine government) is losing. I think the
Singapore Court is sending a signal to the Republic that its
claims are in jeopardy unless it settles with the victims,"
Domingo said. - Ashzel Hachero with Randy Nobleza
