MANILA -- Former senator Wigberto Tañada is expected to appeal Monday a Supreme Court decision, making businessman Eduardo Cojuangco Jr. the legitimate owner of 20 percent of San Miguel Corp.
Executive director of Centro Saka Inc. Romeo Royandoyan told Sun.Star that Tañada will do so on behalf of the Multisectoral Task Force on Coco Levy Recovery, an umbrella group for coconut farmers that includes Centro Saka.
The SC ruled this month in Cojuangco's favor, saying the shares had not been bought with ill-gotten wealth and were not related to a levy collected from coconut farmers from 1973 to 1982.
The fund was intended as a trust fund for the coconut industry.
The taskforce says Cojuangco used that trust fund to buy shares in San Miguel, and that the shares belong to coconut farmers who paid the levy.
"Whichever way one looks at the disputed SMC shares, the source or origin of the funds that were used to acquire the SMC shares is undoubtedly from the pockets of the coconut farmers," Royandoyan said. (Jonathan de Santos/Sunnex)