OSG seeks resolution of coco levy case

ABS-CBN News

Posted at Aug 24 2011 08:36 PM | Updated as of Aug 25 2011 04:36 AM

MANILA, Philippines - The Office of the Solicitor General (OSG) is seeking a resolution of one of 8 cases related to the coco-levy fund, which involves a damage claim of P13.59 billion.

In a pleading, the government lawyer asked the second division of the Sandiganbayan to resolve its 2-year-old motion for reconsideration on the particular case.

Civil Case No. 0033-C concerns allegations that businessman Eduardo M. Cojuangco Jr. conspired with the Marcoses to divert some P840.79 million from the Coconut Industry Development Fund.

The money was supposed to be earmarked for the production of hybrid seed nuts on a parcel of land owned by a Cojuangco firm, Agricultural Investors, Inc.

Marcos later terminated the collection of the funds. The private firm later took over the project and forced United Coconut Planters Bank to pay it the sum of P532.39 million.

In November 2008, the anti-graft court dismissed the case due to the failure on the part of the Presidential Commission on Good Government to pursue the case. The original complaint was filed in July 1987.

The OSG then filed a motion for reconsideration.

"More than two years had already elapsed since the filing of the Republic's motion for reconsideration; hence it is now more than ripe for resolution," the OSG said.