Eduardo M. Cojuangco, Jr. v. Republic of the Philippines

Summary

This Supreme Court resolution denied Eduardo Cojuangco Jr.'s motion for reconsideration in a landmark coconut levy case. The Court affirmed its November 2012 decision requiring reconveyance of FUB/UCPB shares purchased with public coconut levy funds to the government. While the 1975 PCA-Cojuangco Agreement was contractually valid, the stock transfers were declared unconstitutional as coconut levy funds are public money that must benefit all coconut farmers. The Court found Cojuangco's arguments unsubstantial, emphasizing that the 80,864+ shares and those held by alleged fronts belong conclusively to the Republic for the coconut industry's development, not private ownership.