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Mobil Oil Phils., Inc. Vs. Teofilo Reyes, Sr., et al.

MOBIL OIL PHILIPPINES, INC., petitioner-appellant, vs. THE HONORABLE TEOFILO REYES, SR., in his capacity as Acting Secretary of Commerce and Industry, respondent-appellee.

G.R. No. L-29013 | 1983-08-31

D E C I S I O N


FERNANDO, J.:

The joint record on appeal was filed by both petitioner Mobil Oil Philippines, Inc. and respondent, the then acting Secretary of Commerce and Industry, the late Teofilo Reyes, Sr., the lower court ruling "that the instant petitioner may not claim exemption from the provisions of Republic Act No. 1180, it appearing that it is not wholly owned by the citizens of the United States. Assuming it to be true that 99.27% of its capital stock is owned by persons with United States addresses, it was not shown that said persons are actually citizens of the United States. The Court is accordingly not in a position to...