Despite a U.S. Supreme Court decision reaching the opposite result in a similar case, a state judge in Manhattan has ruled that a 10,000-member class can seek to recover $35 million being held in New York by Merrill Lynch to satisfy a $2 billion judgment it won in 1996 as compensation for human rights abuses committed by former Philippine President Ferdinand Marcos. "The Supreme Court's interpretation of federal procedure, while informative, is not binding on New York courts," the judge wrote.
N.Y. Court Rules Class Can Seek to Recover Funds in Philippine Abuse Case
New York Law Journal
November 20, 2009