Govt bid to recover SMC shares junked anew

The Supreme Court (SC), upholding its earlier rulings, has denied with finality the government’s plea to include 25.45 million treasury shares of San Miguel Corp. (SMC) as part of coco levy assets to be returned to the state.

In a recently released November 29, 2016 resolution, the SC found that the Office of the Solicitor General (OSG) was not able to present “substantial arguments” that warranted the reversal of the High Court’s denial of the government’s motion for reconsideration in its November 8, 2016 directive.