Sandiganbayan: Gov't failed to prove case aginst Lucio Tan

After 25 years of litigation, the Sandiganbayan Fifth Division on Wednesday dismissed with finality the government’s claim on 60 percent of tycoon Lucio Tan’s holdings in various companies.

 

The Sandiganbayan said that the Presidential Commission on Good Government failed to prove that any of Tan’s companies benefited from supposed favors extended by the then Marcos government, nor was there evidence that any special favors were actually implemented.

 

The 70-page resolution affirms the Sandiganbayan’s earlier June 11, 2012 ruling. 

 

Tan has holdings in Fortune Tobacco Corp., Himmel Industries Inc., Foremost Farms Inc., Asia Brewery Inc., Grandspan Development Corp, Silangan Holdings Inc. and Dominium Realty and Construction Corp.

  

The court, however, also dismissed Tan’s counterclaims that sought damages and compensation for legal expenses totaling P900 million.

 

The anti-graft court ruled that the defendants failed to prove that they suffered monetary loss because of the government lawsuit.

 

A separate counterclaim by the heirs of the late former Central Bank Governor Gregorio Licaros for P205 million was also denied.

 

Associate Justice Roland B. Jurado, division chairman, penned the ruling with Associate Justices Teresita V. Diaz-Baldos and Alex L. Quiroz concurring. — Rouchelle R. Dinglasan/DVM, GMA News