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Republic vs. COCOFED [SEPARATE OPINION, DISSENTING, MELO, J.]

REPUBLIC OF THE PHILIPPINES, represented by the PRESIDENTIAL COMMISSION ON GOOD GOVERNMENT (PCGG), petitioner, vs. COCOFED et al. and BALLARES et al.,[1] EDUARDO M. COJUANGCO JR. and the SANDIGANBAYAN (First Division) respondents.

G.R. Nos. 147062-64 | 2001-12-14

DISSENTING OPINION

MELO, J.:

I respectfully dissent from the majority opinion, penned by Mr. Justice Panganiban, upholding the right of the PCGG to vote the sequestered UCPB shares of stock.

The petition sprung from the following factual antecedents:

In 1986 and 1987, numerous business enterprises, entities, and pieces of property, real and personal, were sequestered or taken over by the PCGG on the ground that these were ill-gotten property of former President Marcos, his family, and close associates. Among these sequestered property were shares of stock in the United Coconut Planters Bank (UCPB) registered in the name of 1,405,366...