SC junks Marcoses’ petition for ownership of ETPI stocks

The Supreme Court (SC) junked yesterday the petition of the family of the late dictator Ferdinand Marcos claiming ownership of the 2,652,000 shares of stocks in the Eastern Telecommunications Philippines Inc. (ETPI).

The ownership of the ETPI stocks was subjected to a compromise agreement between former Ambassador Roberto Benedicto and the Presidential Commission on Good Government (PCGG).

In ruling in favor of the PCGG, the High Court said the Marcoses’ petition is unmeritorious, saying the family should have settled payment of the required docket fees when they filed a petition for ownership at the Sandiganbayan way back in 1998.

"This court stressed the rule that parties filing civil actions before the Sandiganbayan are liable to pay the required docket fees," the High Court said in its 12-page decision penned by Associate Justice Reynato Puno.

Court records showed that in 1998, the Marcoses filed a complaint for declaration of ownership before the anti-graft court.

The Marcoses, who were made to pay the required docket fee of P1,326,955 paid only P4,850. On Feb. 15, 1999, the anti-graft court dismissed the Marcoses’ petition citing lack of jurisdiction over their failure to pay the docket fee.

On March 1999, the Marcoses filed a motion for reconsideration but this was denied. This prompted them to elevate the case to the Supreme Court.

In its final decision, the High Court’s second division upheld the Feb. 15, 1999 resolution of the Sandiganbayan which dismissed Civil Case no. 0183 petition filed by the Marcoses to declare them as the rightful owner of the 51 percent equity, consisting of 2,652,000 shares of stocks in ETPI.