The Sandiganbayan recently
released an order for the transfer of USD42 Million Marcos loot to Philippine
government. that was found to have been part of the late Former Philippine
President Marcos wealth seized from his estate.
Philippine Special Division on anti-graft
court’s issued two-page Writ of Execution dated August 18, 2014 against all
assets held by Arelma Incorporated. Based on ruling of the SC (Supreme Court)
dated March 12, 2014.
Lated dictator Marcos created a
foundation in the name of Arelma under Panamanian laws in 1972.
The court ordered to ensure the
transfer of the entire USD 42 M from the government of the phlippines thru Philippine
National Bank, which is holding the funds in escrow, to the Bureau of Treasury.
The Sandiganbayan has yet to release
a rule on the dispute over the Malacañang collection of jewelry, which is covered
by the Civil Case no. 0141.
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