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Coco farmers ask SC:
Probe funds decision

MANILA – Coconut farmers yesterday filed before the Supreme Court a complaint asking that there should be a full recovery of the multi-billion coco levy funds.

In a three-page complaint, the farmers asked the SC Committee on Ethics and Ethical Standards headed by Chief Justice Maria Lourdes Sereno to investigate the alleged questionable April 12, 2011 SC ruling.

The ruling declared the 20 percent share holdings in San Miguel Corp of businessman Eduardo Cojuangco is not ill-gotten.

The April 2011 SC ruling involved three consolidated petitions filed by the Presidential Commission on Good Government against the Sandiganbayan, Cojuangco and several others, including the late President Ferdinand Marcos and former First Lady Imelda Marcos.

The first civil case was filed on July 31, 1987, more than a year after the EDSA People Power Revolution on Feb. 22-25, 1986.

The SC said the government failed to establish enough evidence to show that the shares were illegally acquired.

The farmers said the April 2011 SC ruling is in conflict with the SC's decision in January this year.

The farmers said the court ruled another block of SMC shares representing 27 PERCENT or 33,133,266 shares of the total capital stock of SMC was owned by the government and should be used exclusively for the benefit of the coconut farmers.*PNA

 

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