CIS Microfiche Library 1970-2002 (CIS Asia Pacific Collection)

 CIS NO: 87-H381-45
 TITLE: Investigation of Philippine Investments in the U.S.
 SOURCE: Committee on Foreign Affairs. House
 DOC TYPE: Hearing                   COLLATION: iv+720 p.
 DATE: Dec. 3, 11-13, 17, 19, 1985, Jan. 21, 23, 29, Mar. 18, 19, Apr. 9,
     17, 1986
 CONGRESS-SESSION: 99-1; 99-2        SUDOC: Y4.F76/1:In8/73
 ITEM NO: 1017-A; 1017-B
 LC CARD NO: 87-601774               MC ENTRY NO: 87-16340

 Hearings before the Subcom on Asian and Pacific Affairs to investigate the
 nature and extent of alleged secret multimillion dollar investments of
 President Ferdinand Marcos of the Philippines and his wife Imelda Marcos in
 NYC real estate properties and Lindenmere Estate on Long Island, N.Y.
   Focuses on legal and business activities in the U.S. on behalf of the
 Marcoses and associates, including services performed by New York Land Co.
 Co-Presidents Joseph E. Bernstein and Ralph Bernstein.
 Includes transcripts of subcom executive sessions and business meetings as
 follows:
 a. Dec. 3, 1985, motion to authorize issuance of subpoenas to Ralph
     Bernstein and Joseph Bernstein, and to Augusto Camacho and Pablo
     Figueroa, to appear before the subcom and to provide documents relevant
     to the Marcos investigation. Motion was adopted (p. 6-9).
 b. Dec. 3, 1985, analysis by Steven R. Ross, General Counsel for the Clerk
     of the House, of legal issues involved in witness claims of
     attorney-client privilege. (p. 11-25)
 c. Dec. 12, 1985, motions to find Ralph Bernstein and Joseph Bernstein in
     contempt of Congress for refusal to answer subcom questions. Motion was
     adopted. (p. 115-127)
 d. Dec. 19, 1985, and Mar. 18, and Apr. 9, 1986, motions to authorize
     issuance of additional subpoenas. Motions were adopted. (p. 255-259,
     451-459, 486-487)
 e. Apr. 9, 1986, motion to authorize subcom cooperation with Government of
     the Philippines Presidential Commission on Good Government, known as the
     Salonga Commission, investigating real estate and other holdings of
     Ferdinand and Imelda Marcos. Motion was adopted. (p. 485-486)
 f. Apr. 17, 1986, motion to notify the U.S. Attorney's Office that Ralph
     Bernstein and Joseph Bernstein have cooperated in answering subcom
     questions. Motion was adopted. (p. 557-560)
 Also includes transcripts of:
 a. Full Committee Dec. 17, 1985 markup session (p. 213-253) to consider
     report by Subcom Chairman Stephen J. Solarz (D-NY) on resolution (text,
     p. 215-216) to cite Ralph Bernstein and Joseph Bernstein for contempt of
     Congress for refusal to answer subcom questions on the basis of
     attorney-client privilege. Resolution was favorably reported.
 b. Subcom Apr. 9, 1986 markup session (p. 481-485) on concurrent
     resolution (text, p. 482-484), unrelated to Marcos investigation, to
     commemorate the bicentennial of the founding of Australia.
 Appendices (p. 561-720) include correspondence, court documents,
 Congressional Record excerpts, and:
 a. Mallory, C. King, III; and Eizenstat, Stuart E., "Witnesses' Ethical
     Obligations Attorney-Client Privilege with Respect to Subcommittee's
     Subpoenas" letter and legal memo, Dec. 10, 1985 (p. 561-581).
 b. Ross, Steven R.; and Tiefer, Charles, attorney-client privilege, legal
     memos prepared for subcom, Dec. 1985 (p. 582-592).
 c. Attorney-client privilege, legal opinions submitted to committee, Jan.
     1986 (p. 680-695).
 d. Rosenberg, Morton (CRS), attorney-client privilege, legal memos
     prepared for Clerk of the House, Feb. 19, 1986 (p. 699-720).
 CONTENT NOTATION: Ferdinand and Imelda Marcos US real estate investments,
     congressional investigation
 DESCRIPTORS (and special content notations): SUBCOM ON ASIAN AND PACIFIC
     AFFAIRS. HOUSE; PHILIPPINES; POLITICAL ETHICS; PHILIPPINES
     PRESIDENTIAL COMMISSION ON GOOD GOVERNMENT; MARCOS, FERDINAND E.;
     MARCOS, IMELDA; BERNSTEIN, RALPH; BERNSTEIN, JOSEPH E.; CAMACHO,
     AUGOSTO; FIGUERAO, PABLO; REAL ESTATE BUSINESS;
     CONGRESSIONAL.INVESTIGATIONS; NEW YORK CITY; LONG ISLAND, N.Y.;
     LINDENMERE ESTATE; FOREIGN.INVESTMENTS; SUBPOENAS; LAWYERS;
     LAWSUITS; PRIVILEGES AND IMMUNITIES (Atty-client privilege issue in
     congressional investigation of Ferdinand and Imelda Marcos US real
     estate investments); CONTEMPT OF CONGRESS;
     CONGRESSIONAL.COMMITTEE.MARKUP.SESSIONS; EXECUTIVE OFFICE FOR U.S.
     ATTORNEYS, JUSTICE DEPT.; ROSENBERG, MORTON (Atty-client privilege,
     legal memos); LEGAL ETHICS (Atty-client privilege, legal memos);
     ROSS, STEVEN R. (Atty-client privilege, legal memos); TIEFER,
     CHARLES (Atty-client privilege, legal memos); CONGRESSIONAL RESEARCH
     SERVICE (Atty-client privilege, legal memos); SOLARZ, STEPHEN J.;
     AUSTRALIA (Bicentennial of founding, congressional commemoration);
     ANNIVERSARIES (Australia founding bicentennial, congressional
     commemoration); CORPORATIONS; NEW YORK LAND CO.

 87-H381-45 TESTIMONY NO: 1         Dec. 11, 1985 p. 25-39
 WITNESSES (and witness notations):
     HOFFSTAETTER, ERNEST (gen contractor, Hoffstaetter Enterprises)
 STATEMENT AND DISCUSSION: Explanation of role as contractor and dealings
     with Marcos associates during construction work at Lindenmere Estate,
     Long Island.
 CONTENT NOTATION: Ferdinand and Imelda Marcos US real estate investments,
     congressional investigation
 DESCRIPTORS: CONSTRUCTION INDUSTRY; HOFFSTAETTER ENTERPRISES

 87-H381-45 TESTIMONY NO: 2         Dec. 11, 12, 1985 p. 42-115, 127-129
 WITNESSES (and witness notations):
     DEYO, WILLIAM B., JR. (partner, Bernstein, Carter, and Deyo)
     BERNSTEIN, RALPH (co-pres, New York Land Co)
     BERNSTEIN, JOSEPH E. (partner, Bernstein, Carter, and Deyo; co-pres,
        New York Land Co)
     GOLDMAN, RICHARD W.
     LAZARUS, SIMON (both attys)
 STATEMENTS AND DISCUSSION: Status of preliminary review of Marcos-related
     documents in response to subcom subpoena; assertion of attorney-client
     privilege in withholding certain documents and declining to answer
     certain subcom questions pertaining to Marcos family properties and
     interests; explanation of offices and directorships held by Bernsteins
     in enterprises related to Marcos investigation.
 CONTENT NOTATION: Ferdinand and Imelda Marcos US real estate investments,
     congressional investigation

 87-H381-45 TESTIMONY NO: 3         Dec. 13, 1985 p. 131-211
 WITNESSES (and witness notations):
     SVERDLIK, IRVING (atty)
     FIGUEROA, PABLO (Dr.) (former shareholder, Luna 7 Dev Corp)
     FINKEL, AARON (atty)
     CAMACHO, AUGUSTO (pres, Camacho Architect; former pres, Luna 7 Dev
        Corp)
 STATEMENT AND DISCUSSION: Concerns about subcom conduct of hearing in
     public session; review of Luna 7 Development Corp. establishment, stock
     distribution, and financing for development of Lindenmere Estate;
     background of lawsuit against Ancor Holdings, N.V. and Imelda Marcos
     over settlement of Luna 7 assets.
 CONTENT NOTATION: Ferdinand and Imelda Marcos US real estate investments,
     congressional investigation
 DESCRIPTORS: SECURITIES; FINANCE; HOLDING COMPANIES; LUNA 7 DEVELOPMENT
     CORP.; ANCOR HOLDINGS, N.V.

 87-H381-45 TESTIMONY NO: 4         Jan. 21, 1986 p. 268-287
 WITNESSES (and witness notations):
     EDELMAN, PAUL S. (atty)
 DISCUSSION: Explanation of role in Figueroa lawsuit over settlement of
     Luna 7 assets; events identifying Imelda Marcos as apparent owner or
     chief investor in Lindenmere Estate (related notes, correspondence, p.
     276-284).
 CONTENT NOTATION: Ferdinand and Imelda Marcos US real estate investments,
     congressional investigation
 DESCRIPTORS: LUNA 7 DEVELOPMENT CORP.

 87-H381-45 TESTIMONY NO: 5         Jan. 21, 1986 p. 287-299
 WITNESSES (and witness notations):
     CAPULONG, ROMEO T. (atty; chair, Filipino Lawyers Committee for Human
        Rights)
 STATEMENT AND DISCUSSION: Explanation of role in Figueroa lawsuit against
     Imelda Marcos.
 CONTENT NOTATION: Ferdinand and Imelda Marcos US real estate investments,
     congressional investigation
 DESCRIPTORS: LUNA 7 DEVELOPMENT CORP.; FILIPINO LAWYERS COMMITTEE FOR
     HUMAN RIGHTS

 87-H381-45 TESTIMONY NO: 6         Jan. 21, 29, Apr. 9, 1986 p. 300-311,
                                      443-449, 490-497
 WITNESSES (and witness notations):
     CRONIN, JOHN (Subcom Staff Investigation Asst, assigned from GAO)
 STATEMENT AND DISCUSSION: Review of correspondence and other documents
     identifying various participants in NYC area real estate transactions
     (related tax papers, p. 302-305); analysis of dummy corporations
     allegedly designed to conceal Marcos ownership of properties (charts, p.
     492-496).
 CONTENT NOTATION: Ferdinand and Imelda Marcos US real estate investments,
     congressional investigation

 87-H381-45 TESTIMONY NO: 7         Jan. 21, 1986 p. 312-342
 WITNESSES (and witness notations):
     WALPIN, GERALD (atty, representing Irwin J Robinson)
     ROBINSON, IRWIN J. (former atty for Imelda Marcos)
 STATEMENT AND DISCUSSION: Explanation of Robinson role as attorney for
     Imelda Marcos and associates in lawsuits filed by Augusto Comacho and
     Pablo Figueroa; details of financial settlements with Camacho and
     Figueroa.
 CONTENT NOTATION: Ferdinand and Imelda Marcos US real estate investments,
     congressional investigation
 DESCRIPTORS: LUNA 7 DEVELOPMENT CORP.

 87-H381-45 TESTIMONY NO: 8         Jan. 23, 1986 p. 343-351
 WITNESSES (and witness notations):
     BRYANT, JOHN (Rep, D-Tex)
 STATEMENT AND DISCUSSION: Rationale for sponsored H.R. 2582, the Foreign
     Investment Disclosure and Reciprocity Act, to require full public
     disclosure of the ultimate beneficial owner of all major foreign
     holdings in the U.S.
 CONTENT NOTATION: Foreign investments in US, reciprocity and info
     disclosure requirements estab
 DESCRIPTORS (and special content notations): FINANCIAL DISCLOSURE;
     FOREIGN.INVESTMENTS (Info disclosure and reciprocity requirements for
     foreign investments in US); BUSINESS INFORMATION; FOREIGN INVESTMENT
     DISCLOSURE AND RECIPROCITY ACT

 87-H381-45 TESTIMONY NO: 9         Jan. 23, 1986 p. 358-374
 WITNESSES (and witness notations):
     BULLOCK, HENRY (vp and mgr, Northern Calif office, Security Pacific
        Mortgage Co)
 DISCUSSION: Review of loan transactions and mortgage payments related to
     NYC properties allegedly purchased by Marcos interests.
 CONTENT NOTATION: Ferdinand and Imelda Marcos US real estate investments,
     congressional investigation
 DESCRIPTORS: MORTGAGES; SECURITY PACIFIC CORP.

 87-H381-45 TESTIMONY NO: 10        Jan. 23, 1986 p. 375-396
 WITNESSES (and witness notations):
     KNOX, BARRY (atty; consultant, investment banking and mgmt services)
 STATEMENT AND DISCUSSION: Explanation of legal and advisory services to
     Philippine businesswoman Gliceria Tantoco and other investors in NYC
     properties allegedly owned by Ferdinand and Imelda Marcos; review of
     meetings with Imelda Marcos and associates.
 CONTENT NOTATION: Ferdinand and Imelda Marcos US real estate investments,
     congressional investigation
 DESCRIPTORS: TANTOCO, GLICERIA

 87-H381-45 TESTIMONY NO: 11        Mar. 19, 1986 p. 465-479
 WITNESSES (and witness notations):
     CRANSTON, ALAN (Sen, D-Calif)
     SALONGA, JOVITO (sen, Philippines Congress)
 STATEMENTS AND DISCUSSION: Briefing on Philippine Government
     investigations into assets and properties of Ferdinand and Imelda
     Marcos.
 CONTENT NOTATION: Ferdinand and Imelda Marcos US real estate investments,
     congressional investigation
 DESCRIPTORS (and special content notations): GOVERNMENT.INVESTIGATIONS
     (Ferdinand and Imelda Marcos assets and properties, Philippine govt
     investigations)

 87-H381-45 TESTIMONY NO: 12        Apr. 9, 1986 p. 497-555
 WITNESSES (and witness notations):
     BERNSTEIN, JOSEPH E. (partner, Bernstein, Carter, and Deyo)
     BERNSTEIN, RALPH (both co-pres, New York Land Co)
 DISCUSSION: Explanation of business relationship with Imelda and Ferdinand
     Marcos, including acquisition and management of NYC area real estate
     properties (related affidavit, p. 511-517); review of financial
     transactions and dummy corporations established on behalf of the
     Marcoses; background and explanation of Bernstein offers to purchase NYC
     properties from the Marcoses.
 CONTENT NOTATION: Ferdinand and Imelda Marcos US real estate investments,
     congressional investigation
 DESCRIPTORS: FINANCE

 87-H381-45 TESTIMONY NO: 13        Additional Testimony
 WITNESSES (and witness notations):
     TANTOCO, HECTOR (mgr, Sanmar Exporting Co., p. 397-403)
     POLITIS, VICTOR (real estate exec; former exec vp, New York Land Co,
        p. 412-427)
     GINSBERG-RIESEL, SHEILA (atty, James Breslin, Bernstein, Carter, and
        Deyo, and New York Land Co, p. 429- 435)
     BRESLIN, JAMES (sr vp and treas, New York Land Co, p. 429-435)
     TAHBAZ, MORAD (sr vp and sec, New York Land Co, p. 436-443)
 DISCUSSION: Perspectives on Marcos investments in NYC area real estate
     properties.
 CONTENT NOTATION: Ferdinand and Imelda Marcos US real estate investments,
     congressional investigation
 DESCRIPTORS: SANMAR EXPORTING CO.