Farmers see glimmer of hope in CJ Sereno on coco levy fund

Farmers hankering for a fair share of the coconut levy fund are keeping their fingers crossed as they look forward to getting their day in court under the leadership of Chief Justice Maria Lourdes Sereno.   Sereno was one of four justices who dissented against the decision to declare Cojuangco as the true owner of the 20 percent-stake in San Miguel Corp. (SMC) – supposedly bought using the coconut levy funds.    “The fact that Sereno was one of the four justices creates a window that should be explored,” said lawyer Jae Dela Cruz of the Coalition of Coconut Farmers in a press briefing Tuesday.   It would be the fourth motion for reconsideration against the SC ruling, said Dela Cruz, who attended Insurance Law taught by Sereno student at the University of the Philippines.   Last December, the high court under then-Chief Justice Renato Corona ruled that Cojuangco’s 20-percent equity in SMC does not form part of the coco levy funds.   The court favored Cojuangco since government was not able to prove that he  was “a close associate of Marcos.”    Corona was impeached by the Senate last May.   The coco levy controversy evolved in the 1970s when President Ferdinand Marcos and people close to him, supposedly including Cojuangco, allegedly conspired to tax coconut farmers, promising them the development of the coconut industry and a share in the investments.   But the money was allegedly used for Cojuangco’s personal profit particularly for buying United Coconut Planters Bank (UCPB) and equity in SMC.   Technical errors   Dela Cruz said they would now focus on the “technical errors” of the Supreme Court when it ruled on the matter.   She said they would question SC’s claim that government has not proven the close relationship between Cojuangco and Marcos, claiming that the businessman received the blessing of Marcos during the Martial law years.   The author of Cojuangco’s unauthorized biography noted there was no need to establish the closeness between Cojuangco and Marcos.   “Nakakatawa… dahil lahat ng tao sa Pilipinas alam na si Danding ay No. 1 crony ni Marcos. ‘Yung four justices (who dissented) lang ‘ata ang nakakaalam, eh,” said Earl Parreño, who wrote the book “Boss Danding.”   In the book, Parreño said Marcos and Cojuangco were like “father and son.”   It would be a challenge to reopen the coco levy fund case, noted Dela Cruz, as the SC ruling has been considered final and executory.   “Medyo mahirap i-file at palamanin dahil nga (nagkatatlong) motion for reconsiderations na ito,” she said.   Sereno’s dissenting opinion   In her dissenting opinion, Sereno considers as fallacious the ruling that Cojuangco is not a close associate of Marcos.   “It is unbelievable that the fallacy that the two of them were not close associates, and that respondent did not enjoy considerable privileges during the deposed President’s administration could be proposed now,” Sereno wrote.   She noted that Cojuangco was appointed director of Philippine Coconut Authority by President Marcos himself.    At the same time, Cojuangco served as UCPB president in 1983, which –Sereno claimed – should be considered “evidence of his influence over the disposition of the coco levy funds.”   “Both the PCA and the UCPB played key roles in the collection, administration and/or disbursement of those funds,” she added.    Last January, the SC decided that the second bloc of coco levy shares – or 24 percent equity SMC at 753 million shares – belongs to government and is set to be used for the development of the coconut industry.   Next month, SMC is set to buy-back the 753 million shares at P75 apiece, which is lower than the actual market prices at about P100 each, according to the farmers’ lawyer.   This would effectively reduce the value of shares to P65 billion, from an original value of P100 billion, said Dela Cruz.   Although the buy-back would reduce the coco levy funds to benefit the farmers, Dela Cruz said they would rather acquire the funds than pursue the remaining P35 billion to avoid prolonging the case. — VS, GMA News