For filing their pleading beyond the allowable five-year period, the Sandiganbayan has denied the motion for execution of Palm Avenue Holding Co., Inc. and Palm Avenue Realty Development Corporation for the release their sequestered funds and shares of stocks.
Palm Avenue Holding Co., Inc. and Palm Avenue Realty Development Corporation, known collectively as Palm Companies, are defendants in Civil Case No. 0035 which was filed by the Presidential Commission on Good Government (PCGG) against Benjamin "Kokoy" Romualdez, the late brother of former First Lady Imelda R. Marcos.
The case for Reconveyance, Reversion, Accounting, Restitution, Damages sought sequestration of Palm Companies' assets, including shares of stocks of Benguet Corporation.
In a resolution dated Oct. 21, 2010, the Sandiganbayan ordered the PCGG to release to Palm Companies all shares of stock and funds under their custody that belong to Palm Companies.
The PCGG elevated the case to the Supreme Court (SC) through a Petition for Certiorari and Prohibition. However, the SC dismissed the petition in a decision dated Aug. 6, 2015. The decision became final and executory on Feb. 9, 2015. Palm Companies was then entitled to the writ of execution directing the PCGG to return its shares of stocks and funds.
However, Palm Companies filed the motion for execution only last April 19 or nine years, two months, and 10 days from the time the SC's decision became final.
"The Palm Companies failed to allege, much less show, that the delay in filing their Motion for Execution was caused by plaintiff (PCGG), or that there are exceptional circumstances or meritorious grounds for allowing the execution of the judgment or final order by mere motion despite the lapse of the five-year period. Thus, the Court is constrained to deny the instant Motion for Execution," the Sandiganbayan ruled.
Chairperson Associate Justice Sarah Jane T. Fernandez wrote the six-page resolution with the concurrence of Associate Justices Michael Frederick L. Musngi and Kevin Narce B. Vivero.