FACTS: Union Cement Corporation (UCC), a publicly-listed company, has two principal stockholders – UCHC and petitioner Cemco. Majority of UCHC’s stocks were owned by BCI and ACC.  Cemco, on the other hand, owned 9% of UCHC stocks. BCI informed the Philippine Stock Exchange (PSE) that it and its subsidiary ACC had passed resolutions to sell… Read More CEMCO HOLDINGS, INC. v. NLIC NATIONAL LIFE INSURANCE COMPANY G.R. No. 171815 August 7, 2007 Tender Offer Rule, Securities Regulation Code

FACTS: Petitioner Advent Capital filed a petition for rehabilitation. The RTC named Atty. Concepcion as rehabilitation receiver. Upon audit of Advent Capital’s books, Atty. Concepcion found that respondents Nicasio and Editha Alcantara owed Advent Capital ₱27,398,026.59, representing trust fees that it supposedly earned for managing their several trust accounts. Atty. Concepcion requested Belson Securities, Inc.… Read More ADVENT CAPITAL v. ALCANTARA G.R. No. 183050 January 25, 2012 Nature of A Rehabilitation Case

FACTS: Petitioner Wonder Book and eight other corporations, collectively known as the LGC, filed a joint petition for rehabilitation with the RTC.  The RTC approved the petition for rehabilitation.  The Order was questioned by EPCI Bank and PBCOM, creditors of LGC. EPCI Bank’s petition was granted. The CA reversed the Order of the RTC and… Read More WONDER BOOK v. PHILIPPINE BANK OF COMMUNICATIONS G.R. No. 187316, July 16, 2012 Rehabilitation

FACTS: Due to the financial difficulties, Lepanto Ceramics, Inc. (LCI) filed a petition for corporate rehabilitation pursuant the FRIA. LCI alleged its inability to pay its obligations as they become due and that its total liabilities far exceed its total assets. The Rehabilitation Court, issued a Commencement Order, which, inter alia: (a) declared LCI to… Read More BIR v.LEPANTO CERAMICS G.R. No. 224764 April 24, 2017 J. Perlas-Bernabe Financial Rehabilitation and Insolvency Act (FRIA) of 2010

FACTS: Petitioner filed a Complaint against respondent, alleging that respondent, “doing business under the name and style of UNIMASTER,” was indebted to him in the amount of P1,500,000.00, representing the price of construction materials allegedly purchased by respondent from him for the construction of the Macagtas Dam project. He averred that respondent had issued three… Read More UBAS v. CHAN G.R. No. 215910, February 06, 2017 J. PERLAS-BERNABE Complete but Undelivered Negotiable Instrument

FACTS: Romeo L. Battung, Jr. boarded petitioner’s bus in Delfin Albano, Isabela, bound for Manila. Battung was seated at the first row behind the driver and slept during the ride. When the bus reached the Philippine Carabao Center in Muñoz, Nueva Ecija, the bus driver, Duplio, stopped the bus and alighted to check the tires.… Read More G.V. FLORIDA TRANSPORT, INC. v. HEIRS OF BATTUNG G.R. No. 208802, October 14, 2015 J. PERLAS-BERNABE Common Carriers, Death or Injuries to Passengers