Jamby Madrigal asks SEC to ban transfer of late aunt’s stocks not listed in last will

MANILA, Philippines — Senator Maria Ana Consuelo "Jamby" Madrigal asked the Security and Exchange Commission (SEC) on Thursday to forbid any transfer of stocks her late billionaire-aunt Consuelo Madrigal-Collantes held in companies not listed in her disputed last will. Madrigal sent the letter to the SEC in light of the July 2 order of Judge Oscar Pimentel of the Makati Regional Trial Court (RTC) Branch 148 recognizing her as one of Collantes' legal heirs and granting letters testamentary to the two executors of the will, lawyer Perry Pe and Aurelio Montinola III, president of the Bank of the Philippine Islands (BPI). Pimentel ruled that the letters testamentary only covers the properties expressly stated in Collantes' will, which amounts to a total of P26,134,137.23. He said other properties owned by Collantes should not be disposed of without the prior approval of the court. Madrigal informed the court of the 18 firms where Collantes owns "numerous" shares of stocks and which are not included in her will. These are; Aquatic Food Center, Inc.; Ceus Realty Corporation; Chela Realty Corporation; Chine Realty Corporation;Chirpy Realty Corporation; C. Hito Realty Corporation;Chiton Realty Corporation;Chloe Realty Corporation;Cicada Realty Corporation;Coko Realty Corporation;Cumulus, Inc.;Fuerte Holdings, Inc.; Marco Realty Corporation; Mascot Realty Corporation; MCM Realty Corporation; Puvis Realty Corporation; Rama Realty Co., Inc.; and Sumac Real Estate Group. Madrigal told the court that subject shares of stock in the corporations, which are not mentioned or included in the alleged Last Will and Testament of the deceased Consuelo P. Madrigal, "are part of her estate and pursuant to the Order afore quoted, shall be covered by the rules on legal succession." In a statement issued last Wednesday, Madrigal said the court's ruling is a "vindication" of her aunt's "true intentions which I fought for in court." "Since the court has now acknowledged not only my rights as a legal heir but also those of my other relatives, I intend to continue this fight for the benefit of those whom my Tita Chito truly loved – such as her Foundation," the senator said, referring to the charitable institution her aunt established to help the poor. - GMANews.TV