Excerpts from PRIVILEGE SPEECH of Senator Enrile

RENE SAGUISAG

“Rene Saguisag, former senator, former member of this Chamber. He called for President Gloria Macapagal-Arroyo’s resignation several times, yet, represents Enrique Locsin who claims to be a government representative and President Gloria Macapagal-Arroyo’s appointee. He received P11.1 million in legal fees from Philcomsat Holdings Corporation allegedly in trust. In trust for what? I would like to ask and for which I would like an answer. He connived with the Bank of the Philippine Islands to prevent the disclosure of Philcomsat Holdings Corporation’s bank statements. I am nearing the end, Mr. President. I hope my colleagues do not get tired. This bank refused to freeze the Philcomsat Holdings Corporation’s accounts in spite of the overwhelming evidence of two parties claiming authority to operate the accounts. No, this bank abetted and caused damage to Philcomsat Holdings Corporation.

This bank claimed that there is no sufficient evidence to justify an interpleader suit between the unified board and the Locsin group and refused to recognize the unified board as a claimant. As a consequence, not just a million, not just two million, but scores of millions of pesos of Philcomsat Holdings Corporation had been dissipated because of this bank.”

CORRESPONDENCE from RENE SAGUISAG, lawyer of Enrique L. Locsin and PHC

RECAP OF SAGUISAG FEES paid by Philcomsat Holdings Corp.