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Monday, March 30, 2009

 

High Court orders Menzi estate to return P201M

 
By William B. Depasupil, Reporter
 
The Supreme Court (SC) en banc has ordered the estate of the late Filipino-Swiss industrialist Hans Menzi to return the sum of P201.13 million representing the proceeds of the sale of P198,052.5 of Manila Bulletin shares of stock.

In a minute resolution signed by Clerk of Court Ma. Luisa Villarama, the SC gave the Menzi estate and the Hanz Menzi Holding and Management Inc. (HMHMI), through its executor, lawyer Manuel Montecillo, five days to deposit the said amount, including interest, to Philtrust Bank “and to report and show proof of compliance” within the same period.

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