Zardari's surprise admission to Surrey Palace Ownership!
Pakistan Times Federal Bureau Report

ISLAMABAD: The surprising admission of Asif Ali Zardari to the ownership of Rockwood Estate, generally known as "Surrey Palace", through his counsel in the Isle of Man, UK, high court has validated the Pakistan government's claims on the issue.

"The identity crisis finally is over now when Lawyer John Acock has admitted on behalf of his client (Zardari) on 16.08.2004 in Isle of Man high court that the latter is the beneficial owner of the Rockwood Estate and would like to contest the petition filed by the official Liquidator of the Rockwood Estate", a government spokesman said here Tuesday.

The U-Turn

The spokesman while terming it a U-turn from Zardari and Ms Benazir Bhutto said, Ms. Bhutto's spokesman who earlier trumpeted that the property did not belong to her, and she was not concerned 'who sold it to whom', stands exposed to a morality dilemma.

It now stands proven that true owners of the multi-million dollars Rockwood Estate are former Prime Minister Benazir Bhutto and her husband Asif Ali Zardari", he added.

Interesting Legal Battle

The spokesman said, the simultaneous admission of beneficial claim as real owner of the estate by Zardari has created a scene of interesting legal battle in lsle of Man's High Court.

This also supports the Government of Pakistan's (GOP) earlier contention that the Rockwood properties had been purchased by Ms Benazir Bhutto and Asif Ali Zardari with the proceeds of corruption, the identity of the true purchasers being deliberately concealed behind a network of trusts and companies.

The GOP has consequently contended, and still does contend, that Pakistan is entitled to recover the properties, or the proceeds of sale, for the benefit of the people of Pakistan, the spokesman added.

Until last month, the spokesman noted, the Rockwood properties, commonly referred to in Pakistan as the "Surrey Palace", were registered in the names of three Isle of Man companies, all of which were in liquidation.

Last month the properties were sold. The Liquidator now holds proceeds of sale, less certain agreed amounts, he added.

Proceedings

The Isle of Man high court has adjourned the hearing until December-20, 2004 to give interested parties, including Asif Ali Zardari and Government of Pakistan, opportunity to prepare and file the contesting documents.

The property was sold on July-16, 2004 for a sum of 4.35 million Pounds in consequence of GOP claim towards its legal and financial ownership.

According to the spokesman, the sale was effected by the Liquidator of a number of Isle of Man companies which were created to disguise the true identity of the beneficial owners of the property.●