Singapore court awards Marcos millions to PNB

Singapore court awards Marcos millions to PNB | GMA News Online | The Go-To Site for Filipinos Everywhere

gmanetwork.com 16 Aug '12, 8am

Singapore court awards Marcos millions to PNB

SINGAPORE — Singapore's High Court has ruled that more than $23 million seized from the estate of late Philippine dictator Ferdinand Marcos rightfully belongs to Philippine National Bank. In a 77-page ruling obtained Thursday by AFP, Justice Andrew Ang dismissed the rival claims of the Philippine government, a group of human rights victims and five foundations believed to be Marcos fronts. He ruled that the money – deposited in the Singapore branch of German bank WestLB – belongs to the now privately-owned PNB. "I am of the view that PNB holds legal title to the funds as trustee of the same," Ang said in his judgement issued Wednesday. The funds, comprising $16.8 million and £4.2 million ($6.58 million), were part of the alleged illicit fortune that Marcos stashed away in various Swiss bank accounts. Marcos ruled the Philippines from 1965 to 1986, when he was overthrown by...

Full article: http://www.gmanetwork.com/news/story/270026/economy/money...

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@carmscastelo » 16 Aug '12, 9pm
RT @gmanews: Singapore court awards Marcos millions to PNB | Read more: [link]
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RT @gmanews: Singapore court awards Marcos millions to PNB: SINGAPORE — Singapore's High Court... [link] #news #philippines
@iheartcircle1 » 16 Aug '12, 8am
Singapore court awards Marcos millions to PNB - SINGAPORE Singapore's High Court has ruled that more than $23 milli... [link]
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Singapore court awards Marcos millions to PNB | GMA News Online | The Go-To Site for Filipinos Everywhere [link]
@nimbosa » 16 Aug '12, 8am
RT @GMANewsOnline: Singapore court awards Marcos millions to PNB [link]
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Singapore court awards Marcos millions to PNB: SINGAPORE — Singapore's High Court has ruled that more than $23 m... [link]
@JRNSOC1213 » 17 Aug '12, 1am
RT @gmanews: Singapore court awards Marcos millions to PNB | Read more: [link]
@ryanviralonso » 16 Aug '12, 9am
RT @GMANewsOnline: Singapore court awards Marcos millions to PNB [link]
@tonchi » 16 Aug '12, 9am
RT @GMANewsOnline: Singapore court awards Marcos millions to PNB [link]
@Michael_Espina » 16 Aug '12, 8am
Singapore court awards Marcos millions to PNB [link]
@froydsky » 16 Aug '12, 8am
Singapore court awards Marcos millions to PNB: SINGAPORE — Singapore's High Court has ruled that more than $23 m... [link]
@gmanewstvbrk » 16 Aug '12, 8am
Singapore court awards Marcos millions to PNB: SINGAPORE — Singapore's High Court has ruled that more than $23 m... [link]
@KennethNhol » 16 Aug '12, 8am
RT @GMANewsOnline: Singapore court awards Marcos millions to PNB [link]
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RT @GMANewsOnline: Singapore court awards Marcos millions to PNB [link]
@MarkBamba » 16 Aug '12, 8am
Singapore court awards Marcos millions to PNB [link]
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RT @GMANewsOnline: Singapore court awards Marcos millions to PNB [link]
@goyting » 16 Aug '12, 8am
RT @GMANewsOnline: Singapore court awards Marcos millions to PNB [link]
@GMANewsOnline » 16 Aug '12, 8am
Singapore court awards Marcos millions to PNB [link]
@newsman_net » 16 Aug '12, 8am
Singapore court awards Marcos millions to PNB [link]