Title: RP vs. Ferdinand E. Marcos, et al.
Respondents: Ferdinand E. Marcos
Court: Sandiganbayan/US District Court
Nature of the case: Reconveyance, Reversion, Accounting and Damages
Date filed: 12/29/86
Summary of Complaint: The complaint in this case was filed December 29, 1986 for breach of trust, breach of fiduciary duty, abuse of right, unjust enrichment, constructive trust, accounting and damages against the Marcoses. The case involves the New York properties, to wit: Crown Building and Herald Center – all of which are located in Manhattan and Lindenmere Estate in Long Islands, New York. They have estimated gross value ranging from US $300 M to US $350M without taking into account legitimate mortgage loans and other similar obligation. These properties have been frozen by judicial action in which a restraining order was issued by the New York Supreme Court on March 2, 1986, based on the complaint filed by the Republic on the same day, and their transfer or conveyance was barred by a Court for the Southern District of New York on May 2, 1986. The Level order was affirmed by unanimous decision of the U.S. 2nd District Court of Appeals on November 26, 1986.
The complaint seeks to require defendants Ferdinand Marcos and Imelda Marcos and their co-defendants to render proper accounting, and be held liable for damages to plaintiff in accordance with the Philippine Law.
Status: Compromise Agreement
Date Entered Status : 03/25/03
Actual recoveries: P 344,498,225.07
Remarks: Dismissed per Order dated 25 March 2003 pursuant to the Stipulation and Order dated 19 December 1990 in the following cases : (1) RP vs Ferdinand E. Marcos [CIV 2294 , PNL Action 1] (2) Canadian Land Company of America, et al vs Joseph Bernstein, et al [ CIV 9087 PNL Action] (3) Canadian Land Company of America vs. MABARI [CIV 5836 PNL Action 3] (4) Manhattan Land Company vs Ferdinand E. Marcos et al [86 CIV, 9729 PNL, Action 4