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Luisita seeks SC recall ruling, SDO validity, high just compensation By Benjamin B. Pulta 12/20/2011

Tuesday, December 20, 2011

Luisita seeks SC recall ruling, SDO validity, high just compensation

By Benjamin B. Pulta 12/20/2011

First the Cojuangco-Aquinos of Hacienda Luisita said they would no longer seek a motion for reconsideration from the Supreme Court ruling that generally favored the hacienda farmers, but with the focus on the impeachment trial of SC Chief Justice Renato Corona and the vow of President Aquino to lobby with the senators to convict the CJ in an impeachment trial, the Cojuangco clan is pushing not only a recall of the SC ruling but for the court to declare the stock distribution option (SDO) valid, and also called for a higher just compensation for the clan.

Lawyers representing the Cojuangco-Aquino family-owned Hacienda Lusita Inc. (HLI) has asked the SC to reconsider its decision last Nov. 22 placing the centuries-old sugar estate under the government’s agrarian reform program.

In a 45-page motion to clarify and reconsider, HLI sought among other things, to have the reckoning point in determining the valuation of the hacienda moved to a later

date, 2006, from the original SC decision which said that the just compensation shall be based on the value of the property in November 1989 when the stock distribution option (SDO) was approved. The high court in its decision this year had struck down the SDO..... MORE

SourceThe Daily Tribune

URL: http://www.tribuneonline.org/headlines/20111220hed6.html

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