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DMRC Enterprises vs.Este del Sol Mountain Reserve, Inc.

DMRC ENTERPRISES, petitioner, vs. ESTE DEL SOL MOUNTAIN RESERVE, INC., respondent.

G.R. No. L-57936 | 1984-09-28

D E C I S I O N


GUTIERREZ, JR., J.:

A question of proper forum, as between the regular courts and the Securities and Exchange Commission, to take cognizance of a controversy involving, inter alia, the issuance of shares of stock as payment of a valid debt of a corporation is brought before us as the sole issue in this petition for review of the April 23, 1981 order of the Court of First Instance of Rizal, Quezon City, Branch LII.

The facts of the case are simple.

Petitioner is a partnership engaged in the business of general construction and leasing heavy equipment and other allied transactions.

On May 12, 1978, the petitioner made...