Back

Union Glass & Container Corp., et al. Vs. Securities and Exchange Commission, et al.

UNION GLASS & CONTAINER CORPORATION and CARLOS PALANCA, JR., in his capacity as President of Union Glass & Container Corporation, petitioner, vs. THE SECURITIES AND EXCHANGE COMMISSION and CAROLINA HOFILE?A, respondents.

G.R. No. L-64013 | 1983-11-28

D E C I S I O N


ESCOLIN, J.:

This petition for certiorari and prohibition seeks to annul and set aside the Order of the Securities and Exchange Commission, dated September 25, 1981, upholding its jurisdiction in SEC Case No. 2035, entitled "Carolina Hofileña, Complainant, versus Development Bank of the Philippines, et al., Respondents."

Private respondent Carolina Hofileña, complainant in SEC Case No. 2035, is a stockholder of Pioneer Glass Manufacturing Corporation, Pioneer Glass for short, a domestic corporation engaged in the operation of silica mines and the manufacture of glass and glassware. Since 1967, Pioneer...