Cocolife seeks to suspend proceedings of coco levy civil case
By AJ Siytangco
Published Sep 27, 2018 09:58 pm
By Czarina Nicole Ong
The United Coconut Planters Life Assurance Corporation (Cocolife) has filed an omnibus motion before the Sandiganbayan Second Division, hoping to suspend the proceedings regarding the controversial Coconut Industry Investment Fund (CIIF).
(MANILA BULLETIN)
The Sandiganbayan earlier took cognizance of the Supreme Court (SC) ruling ordering that the Coconut Industry Investment Fund Oil Mills Group (CIIF-OMG) companies and shares be turned over to the government for the benefit of coconut farmers.
However, several motions for reconsideration were filed before the anti-graft court. Cocolife, in particular, hoped that the Writ of Partial Execution be recalled and they also wanted the Sandiganbayan to define and clarify its legal disposition.
Cocolife asserted that its right to due process was never given the opportunity to be heard, and warned that an erroneous execution of the partial summary judgment will have an adverse impact on its corporate existence, therefore prejudicing its stakeholders.
There is also a pending legislative measure, titled “An Act Creating the Coconut Farmers and Industry Trust Fund, Providing for Its Management and Utilization, and For Other Purposes.”
It has now passed the bicameral committee and been approved by the Senate; and Cocolife believes it will most likely become law.
The Presidential Commission on Good Government (PCGG) will be granted the authority to collate and audit the coco levy fund. Given the PCGG’s role in the pending litigation, Cocolife believes that there is a good chance for a negotiated settlement.
“Thus, it is respectfully sought that this matter be set for case conference in order that the available options can be explored at the behest, and under the guidance, of this Honorable Court,” the motion read.
“This step has a high probability of avoiding the complexities of litigation and in all likelihood, could pave the way for a swift execution of the partial summary judgment,” it added.
Cocolife remains optimistic that an amicable solution is achievable. In order not to jeopardize the amicable settlement efforts, it prayed that its earlier motion for reconsideration be put on hold while negotiations are ongoing.
Aside from the suspension of the motion for reconsideration, it also sought for a case conference, preferably on Oct. 12, 2018 at 2 p.m. with Cocolife and PCGG both present.
The Coco-Levy fund scam started in the 1970s and 1980s, which involved businessman Eduardo “Danding” Cojuangco Jr., the late former president Ferdinand E. Marcos and former senator Juan Ponce Enrile. They were accused of taxing coconut farmers in exchange for the development of the coconut industry.
However, the funds they collected reportedly went to the purchase of UCPB and San Miguel Corporation (SMC), among others.
Earlier, the Sandiganbayan issued a resolution: “Let a Writ of Partial Execution be issued to implement the Supreme Court Decision in G.R. Nos. 177857-58 and 178193, which affirmed the Partial Summary of Judgment of the Court dated May 7, 2004, 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 SC ruling held that the CIIF Companies and its block of SMC shares “shall belong to the government, which shall be used only for the benefit of the coconut farmers and for the development of the coconut industry.”
(MANILA BULLETIN)
The Sandiganbayan earlier took cognizance of the Supreme Court (SC) ruling ordering that the Coconut Industry Investment Fund Oil Mills Group (CIIF-OMG) companies and shares be turned over to the government for the benefit of coconut farmers.
However, several motions for reconsideration were filed before the anti-graft court. Cocolife, in particular, hoped that the Writ of Partial Execution be recalled and they also wanted the Sandiganbayan to define and clarify its legal disposition.
Cocolife asserted that its right to due process was never given the opportunity to be heard, and warned that an erroneous execution of the partial summary judgment will have an adverse impact on its corporate existence, therefore prejudicing its stakeholders.
There is also a pending legislative measure, titled “An Act Creating the Coconut Farmers and Industry Trust Fund, Providing for Its Management and Utilization, and For Other Purposes.”
It has now passed the bicameral committee and been approved by the Senate; and Cocolife believes it will most likely become law.
The Presidential Commission on Good Government (PCGG) will be granted the authority to collate and audit the coco levy fund. Given the PCGG’s role in the pending litigation, Cocolife believes that there is a good chance for a negotiated settlement.
“Thus, it is respectfully sought that this matter be set for case conference in order that the available options can be explored at the behest, and under the guidance, of this Honorable Court,” the motion read.
“This step has a high probability of avoiding the complexities of litigation and in all likelihood, could pave the way for a swift execution of the partial summary judgment,” it added.
Cocolife remains optimistic that an amicable solution is achievable. In order not to jeopardize the amicable settlement efforts, it prayed that its earlier motion for reconsideration be put on hold while negotiations are ongoing.
Aside from the suspension of the motion for reconsideration, it also sought for a case conference, preferably on Oct. 12, 2018 at 2 p.m. with Cocolife and PCGG both present.
The Coco-Levy fund scam started in the 1970s and 1980s, which involved businessman Eduardo “Danding” Cojuangco Jr., the late former president Ferdinand E. Marcos and former senator Juan Ponce Enrile. They were accused of taxing coconut farmers in exchange for the development of the coconut industry.
However, the funds they collected reportedly went to the purchase of UCPB and San Miguel Corporation (SMC), among others.
Earlier, the Sandiganbayan issued a resolution: “Let a Writ of Partial Execution be issued to implement the Supreme Court Decision in G.R. Nos. 177857-58 and 178193, which affirmed the Partial Summary of Judgment of the Court dated May 7, 2004, 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 SC ruling held that the CIIF Companies and its block of SMC shares “shall belong to the government, which shall be used only for the benefit of the coconut farmers and for the development of the coconut industry.”