Philippines given access to over USD 683 million
Bern, 5.8.2003 - Satisfaction with the positive conclusion of the Marcos case was expressed by the Swiss and Phillippine authorities at a meeting in Zurich on Tuesday. Following the confiscation ruling of the Supreme Court in Manila, the Phillippines may now dispose of the Marcos assets that were deposited in a frozen account in 1998 and have since grown to approximately USD 683 million. The only matter still outstanding is the issue of assets worth USD 10 million in the names of those associated with the Marcos regime.