Sandigan: $35-M Arelma deposits belong to govt not Marcoses

Posted at 08/30/2009 8:36 PM | Updated as of 08/30/2009 8:36 PM

MANILA - The Sandiganbayan Special Division on Friday junked with finality the claim of the Marcos family over the $35 million Arelma deposits now held by Merill Lynch Asset Management in New York, USA.

In a 4-page resolution, the graft court affirmed its ruling last April 3 and junked separate appeals filed by Imee Marcos, Irene Marcos-Araneta and the Estate of former President Ferdinand Marcos represented by his widow, former First Lady Imelda Romualdez-Marcos and his only son, Ilocos Norte Rep. Ferdinand ‘Bongbong’ Marcos Jr.

The special division, created by the Supreme Court through a December 10, 2008 resolution, was specifically tasked to fasttrack the resolution of cases pertaining to alleged Marcos ill-gotten wealth.

It overruled all arguments raised by the respondents including questions on jurisdiction and regularity of procedures.

Rep. Marcos claimed the court did not acquire jurisdiction over the Arelma account since Civil Case no. 0141 filed in 1987, only included two alleged financial assets of their family – the $356 million escrow deposit from the Swiss foundations; and some $30 million worth of Treasury notes in the custody of Central Bank.

His mother and sisters, on the other hand, challenged the propriety of the court’s decision to grant a partial summary judgment in favor of the government saying Civil Case no. 0141 has already been terminated after the court forfeited the Swiss deposits in 2003.

But the court said the issues raised by the Marcoses had already been laid to rest by its ruling last April 3.

“It must be stated at the outset that all the above arguments are mere rehash …(and) had already been exhaustively discussed in the Decision sought to the reconsidered. (T)he Court hereby affirms all the pronouncements in the assailed decision inasmuch as the Court sees no cogent reason to overturn or even modify the same,” the Sandiganbayan said.

The only recourse now left for the Marcos family is to seek a reversal of the graft court’s rulings before the Supreme Court. 


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