SC DECIDED WON'T ALLOW GOV'T TO RECOVER BILLION PESO LOANS BY MARCOS DUE TO LACK OF EVIDENCE FILED BY PCGG - PHILIPPINE REPUBLIC NEWS

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Tuesday, June 19, 2018

SC DECIDED WON'T ALLOW GOV'T TO RECOVER BILLION PESO LOANS BY MARCOS DUE TO LACK OF EVIDENCE FILED BY PCGG








The Supreme Court in unanimous decision has barred the government from recovering billions of pesos in behest loans that the late strongman Ferdinand Marcos allegedly granted to his cronies.


The First Division of the High Tribunal junked the petition filed the Presidential Commission on Good Government (PCGG) against Marcos and wife Imelda together with their close associates.

Behest loans are those extended by government financial institutions to private companies, or guaranteed on their behalf, on the orders of Marcos.

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