_______________________
FOREIGN CASES

1. Case No. OS134/2004/Q In the High Court of the Republic of Singapore

WestLB Ag vs. Philippine National Bank, et al.

Nature: This is an action for interpleader filed by WestLB AG, a Singapore branch of a German domiciled bank, involving the Philippine National Bank’s deposit account in the former. The said deposit is part of the Swiss account deposited in escrow at the PNB which was ordered forfeited in favor of the Republic of the Philippines by the Supreme Court in its decision dated 15 July 2003 in G.R. No. 152154.

This action for interpleader arose when the PNB directed WestLB AG to remit the said funds after the Supreme Court rendered the above-mentioned decision and there were ten (10) claimants thereof including PNB.

Status: The issue of the Republic’s sovereign immunity has already been submitted for resolution.

Merril Lynch vs. Arelma, Inc., et al.

Nature: This is an action for interpleader filed by Merril Lynch on 14 September 2000 with the U.S. District Court for the District of Hawaii.

Summary: In 2001, Judge Manuel L. Real dismissed the action against the Republic and the PCGG on the ground that the latter were not real parties in interest. The Republic and the PCGG through its U.S. lawyer filed an appeal with the U.S. Court of Appeals for the Ninth Circuit regarding the district court’s ruling. On October 31, 2002, the Ninth Circuit Court has reversed and remanded the district court’s decision and rendered a favorable opinion holding that the Republic and the PCGG are indispensable parties. On July 12, 2004, Judge Real, however, issued a judgment in favor of claimant Mariano J. Pimentel and the Class of Human Rights Victims in MDL 840 and further ordered the funds be transferred to the Human Rights litigation account with Court. On November 1, 2004, the Republic and the PCGG filed an appeal with the U.S. Ninth Circuit Court. On May 4, 2006, The Ninth Circuit re-affirmed its prior decision upholding the sovereignty of the Republic of the Philippines and the PCGG, holding that “[a] any judgment entered in this action cannot bind the Republic because it is not a party to the action.” However, the Court also upheld the district court’s decision to award the Arelma assets to Pimentel and the Human Rights Claimants (“HRC”). Consequently, the Republic filed a Petition for Certiorari before the U.S. Supreme Court to review the decision of the Ninth Circuit Court of Appeals.

Status: Set for oral arguments on the 15th of March 2007.

3. IMAC Petition In The Principality of Liechtenstein

Nature: This is a petition filed on January 10, 2005 by the PCGG under the principle of International Mutual Assistance on Criminal Matters (IMAC) in the Principality of Liechtenstein which involves eighty three (83) Liechtenstein companies and/or foundations that continue to be involved in the administration and laundering of Marcos ill-gotten wealth.

The petition seek among others, the

1. The search of the premised of Limas AG, including Administral Anstalt and Prasidial Anstalt, both in Vaduz;

2. Sequestration of all documents regarding the companies;

3. Freezing of all transactions with other companies in Liechtenstein and abroad, as well as bank accounts opened and seizure of documents related to the management of the accounts;

4. And taking of testimony of various individuals resident in Liechtenstein, Switzerland and Austria.

Status: The petition is still pending resolution by the Liechtenstein authorities.