MANILA, Philippines - After long, frustrating years of attempting to completely recover the alleged ill-gotten wealth of the Marcoses, the government said it is now amenable to a universal settlement.

"I am very confident this can be settled provided it is pursued avidly by this term or the next," Philippine Commission on Good Government (PCGG) Commissioner Ricardo Abcede told a press conference on Friday.

The commissioner disclosed that he met with the late President Ferdinand Marcos' son-in-law, Greggy Araneta, to explore the possibility of a “universal settlement.” He declined to discuss the details of the April 27 meeting at the Manila Polo Club in Makati City.

At stake is some P140 billion worth of remaining wealth allegedly obtained by the Marcoses 3 to 4 decades ago.

Human rights advocates blasted this recent move.

Full disclosure

As a requirement before the government agrees to a universal settlement with the Marcoses, Abcede said he will require from the family a full disclose of the remaining Marcos wealth.

Abcede said the PCGG wants to put on display, and shortly after, conduct an auction of the jewelry collection of former First Lady Imelda Marcos. He said this will cut short efforts to try to have the Marcoses prove that all the sequestered jewels are still intact.

Mrs. Marcos’ jewelry collection alone is estimated to be worth a whopping P15 billion.

The PCGG was created in 1986 primarily to recover and privatize alleged ill-gotten wealth of the Marcoses and their cronies. Recovery of their assets are under litigation at the Sandiganbayan, the anti-graft court.

Between 2010 and 2013, the PCGG said it expects to raise about P21 billion from the privatization of surrendered and recovered assets from the Marcoses and their allies.

The government's push for a universal settlement comes just two months before the administration of President Arroyo ends.

Settle or pursue case?

Abcede said this new route appears to be better than facing years of tedious court battles with the Marcos family.

He said a settlement with the Marcoses will, in fact, “prevent clogging of the courts.”

"Most of their cases have been with the courts since 1987. It is much easier to just settle with the Marcoses instead of fighting it out," Abcede said in a press briefing.

However, former Solicitor General Frank Chavez expressed concern about the timing of the settlement.

“Nagmamadali sila kasi patapos na ang term ni President Arroyo (They are rushing because the term of President Arroyo is about to end). This is part of their midnight deals,” Chavez told ABS-CBN News in a phone interview.

He also noted that Araneta, who Abcede met with at the Manila Polo Club is a cousin of First Gentleman Mike Arroyo.

Chavez said he will question before the Supreme Court any agreement that government will enter into with the Marcoses.

What justice?

Akbayan Rep. Etta Rosales said the fundamental issues—mainly justice for human rights victims—seem to be lost on Abcede.

“This particular administration has reduced the question of justice to monetary form,” she told ANC’s Business Nightly on Friday evening. “This is stolen money.”

Rosales, who authored Marcos Compensation Bill at the Lower House, said President Arroyo, who she alleged to have a hand in the settlement efforts, “is an obstacle to human rights.”

She noted how some $680 million have already been recovered from Swiss banks after the PCGG, under the late chairman Haydee Yorac, was able to prove in the courts that these funds were ill-gotten. Human rights victims during the Marcos years stand to get a “fair share” from the proceeds.

She also echoed Chavez’s concern that a potential settlement is one of President Arroyo’s last-minute deals.

“This is like his midnight dance with Imelda,” she said, taking a swipe at Abcede’s controversial dance with Mrs. Marcos during his birthday party in 2006.

At the time, Abcede received scathing criticism from former anti-Marcos activists who also condemned the PCGG for engaging in talks to forge a compromise deal with the Marcoses.