The dictator's curse: twenty-year old legal issues thwart a resort firm's planned stock listing, showing how the ghost of Ferdinand Marcos continues to stalk Philippine boardrooms

Article Abstract:

A controversy has developed over the Puerto Azul resort area in the Philippines with a land developing family, Imelda Marcos, securities regulators and the Land Management Bureau all disputing title to the land and control of the corporation that appears to own it. Marcos claims that she owns the land because she and her husband Ferdinand held stock in the corporation. The family that runs the corporation claims that the Marcos' claim was stripped. The Bureau of Land Management believes that most of the land in question is a natural reserve that could not be sold to investors.

Land Subdivision and Land Development, Subdividers & Developers, Subdividers and Developers, Resorts, Land titles

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Hotel Ferdinand Marcos: Philippine resort's operators rue dictator's legacy

Article Abstract:

Fort Ilocandia Resort, the largest Philippine hotel outside of Manila, is undergoing rough times even as it is filled to capacity for the burial of Ferdinand Marcos only ten minutes away. The Key Group, a Taiwanese construction firm that owns a large share of the hotel, has stopped construction because the Philippine government will not give them their land deed for the resort. Philippine Congressman Roque Ablan, who made the deal with Key Group, claims the group has poorly managed the hotel and refuses to cooperate, even though his wife is a huge shareholder.

Reports, Hotels and motels, Ablan, Roque, Key Group

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Fallen woman: Imelda Marcos found guilty on graft charges

Article Abstract:

Imelda Marcos was found guilty on charges of involvement in graft by a Philippines court on Sep 24, 1993 with a maximum sentence of 24 years in prison. Marcos apparently thought that she would not be convicted. Her defense had little to say and she made only rare appearances in court. The Philippine government is confident that the conviction will stand and has set its sights on the trial of Marcos crony Eduardo Cojuangco.

Political corruption

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