he Supreme Court (SC) Tuesday affirmed with finality its April 12, 2011, decision that declared the 20 percent shares of businessman Eduardo Cojuangco Jr. in the outstanding capital stocks of San Miguel Corp. (SMC) not part of the multi-billion-peso coconut levy funds and not ill-gotten wealth.
In a ruling reached by the SC during its full court session, the High Court denied all motions for reconsideration filed in connection with the case, and ordered that no further pleadings will be entertained and that entry of judgment should be in due course.
Denied were the motions filed by the Office of the Solicitor General (OSG) in behalf of the government, former Solicitor General Francisco Chavez, and a multi-sector group headed by former Senators Jovito Salonga and Wigberto Tanada.
A copy of the SC’s resolution denying all the motions was not immediately available.
In a decision handed down in Baguio City last April 12, the SC declared that Cojuangco’s SMC shares – estimated to be worth P19 billion in 2007 – were not part of the coconut levy funds collected during the time of the late former President Marcos, and therefore, not ill-gotten wealth.
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