Some money had allegedly been transferred from Switzerland to a branch of a German bank here.

At least six parties are staking a claim to the US$25 million (S$37.9 million) wired to the Singapore branch of WestLB AG.

They include the Philippine government and 9539 human rights abuse victims.

The Singapore chapter in the protracted pursuit of the Marcos millions began in Manila in 1986.

That was when the Presidential Commission on Good Government (PCGG), a semi-government body, was set up to recover what had been described as the "ill-gotten wealth" accumulated by Mr Marcos during his administration.

The PCGG later tracked down the monies in several Swiss bank accounts that had been set up by five foundations which had Marcos family members as beneficiaries.

In the Court of Appeal on Wednesday, the Philippine government asked to be protected by state immunity so that it could stop other claims from proceeding.

The Philippine government is represented by Senior Counsel Harry Elias while Chandra Mohan is acting for the five foundations set up by the Marcos family.

Senior Counsel Kenneth Tan is representing the human rights abuse victims.

The hearing ended with Chief Justice Chan Sek Keong reserving judgement, saying the case is an important one since it involves the sovereign immunity of a state.

- /so

    
                                                               Home