The decision, which ended 32 years of legal battle, covered shares of stock under the names of Marcos cronies Jose L. Africa and Manuel H. Nieto Jr., as well as small individual shareholders Victor Africa, Lourdes Africa, Rosario Songco, Raquel Dinglasan, Manuel Nieto III, Ramon Nieto, Victoria Legarda, Ma. Rita de los Reyes, Rosario Arellano, Angelo Lobregat, Benito Nieto, Carlos Nieto, Carmen Tuazon and Rafael Valdes.
It also ordered Nieto’s heirs to pay the government some P68.167 million, equivalent to the value of the original shares of Eastern Telecom that were transferred to ISM Communications Corp. in 2005.
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