CJ Sereno's net worth: P18M

reports from Ina Reformina and Zen Hernandez, ABS-CBN News

Posted at Aug 30 2012 02:27 PM | Updated as of Aug 31 2012 05:26 AM

13 other justices release SALNs

MANILA, Philippines (2nd UPDATE) - Chief Justice Maria Lourdes Sereno was worth almost P18 million in 2011, according to her statement of assets, liabilities and net worth (SALN) for the year.

A copy of her latest SALN that was acquired by ABS-CBN News shows that the new Chief Justice, who appointed last week, has a net worth of P17,985,375.51.

The value is lower than the initial P18,029,575.51 amount shown in another SALN copy that circulated in media earlier Thursday.

The discrepancy in her updated 2011 SALN was caused by a new entry on the "receivables" column and the 5% allowance on bad debts that were corrected.

Based on her updated 2011 SALN, Sereno's net worth increased by P223,208.25 compared to 2010.

As of December 31, 2011, Sereno had total assets amounting to P19,227,578.85. These include 3 house and lots in Filinvest East, Cavite and Davao, memorial lots in Cavite and a lot, also in Filinvest East.

The most expensive asset is the house and lot in Filinvest East, purchased in 2005, with an acquisition cost of P4.5 million and a current fair market value of P6 million.

Her latest property acquisition is the Filinvest East lot, bought last year, for P2.1 million.

Sereno also owns 3 vehicles:

  • a Toyota Altis 2005 model worth P760,000;
  • a Toyota Corolla 1997 model worth P320,000; and,
  • a second-hand 1993 model Mitsubishi Lancer bought in 2002 worth P95,000.

She also has P1,185,602.60 cash in bank and receivables of P3,537,130.25.

The acquisition cost of her investments were placed at P1,204,400, while she owned stocks pegged at P1,644,946.

Sereno's office, in a press statement Thursday, said her assets include savings left from legal fees paid by the government to her in connection with her handling of cases involving the Ninoy Aquino International Airport Terminal 3.

"The payment was made to her for services rendered from 23 October 2003 to 31 July 2008, a period of more than 4 years and 9 months," the statement said.

The liabilities section of Sereno's SALN shows that the Chief Justice has credit card billings of P125,511.10. She also has a bank loan of P1 million and payables worth P116,692.24.

Sereno had an income of P1.82 million when she was still Associate Justice.

She is married to Mario Jose Sereno, an Executive Director at the Association of Petrochemical Manufacturers of the Philippines.

Sereno's SALN said her husband became a minor stockholder in SUDECO, PLDT, Seaport, RFM, and Uniwide before the year 2000.

She disclosed her SALNs as part of her commitment to transparency and accountability.

Her office said the chief justice informed her colleagues of her intention to release her SALN "in the spirit" of an earlier Court resolution authorizing their disclosure.

She replaced Renato Corona, who was impeached by the House and found guilty by the Senate for not disclosing his SALNs as required under the Constitution.

Other justices disclose SALNs

Thirteen other justices have also released their SALNS, marking the first in more than 20 years that they disclosed their assets and liabilities in public.

They released their SALNs 2 months after a request was made by cable TV station Solar News.

The high court has yet to release copies of the justice's SALNs to other media companies because the other applications have incomplete requirements.

The SALN copies released to Solar News show that Associate Justice Mariano del Castillo was the wealthiest among the justices in 2011. He declared a net worth of P108,904,519.37.

Associate Justice Arturo Brion had the lowest net worth amounting to P1,498,509.

Justice Antonio Carpio had a net worth of P79,895,025.57;
Justice Presbitero Velasco Jr. had P7,264,064;
Justice Teresita Leonardo-De Castro with P7,941,000;

Justice Diosdado Peralta with P22,642,264.73;
Justice Lucas Bersamin with P18,811,447.87;
Justice Roberto Abad with P42,100,000;

Justice Martin Villarama Jr. with P19,074,165.20;
Justice Jose Perez with P9,380,000;
Justice Jose Mendoza with P27,408,152.36;

Justice Bienvenido Reyes with P75,146,199; and,
Justice Estela Perlas-Bernabe with P67,101,327.

Press Statement - 30 Aug 2012