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Metro Mla. Transit Corp. vs. conchita Morales etal.

METRO MANILA TRANSIT CORPORATION, petitioner, vs. HON. CONCHITA C. MORALES, Presiding Judge, Regional Trial Court, Branch 110, Pasay City, PEDRO M. SAN JUAN JR., PARALUMAN D. BARCELONA, BENJAMIN S. ANGALLA, ALADDIN F. TRINIDAD, RICARDO S. CUTIONGCO, TEOFILO I. MARCELO, DIONISIO O. LLAMAS, JR. and RICARDO L. CAMUA respondents.

G.R. No. 79902 | 1989-05-30

R E S O L U T I O N


FERNAN, C.J.:

In the questioned resolution of March 16, 1988, the Court held that the controversy between petitioner Metro Manila Transit Corporation (MMTC) and private respondents, sole stockholders of CBL Transit Incorporated (CBLT), is intracorporate and therefore cognizable by the Securities and Exchange Commission to the exclusion of the regular courts.

Such conclusion did not sit well with private respondents who forthwith moved for a reconsideration on the following grounds:

[a] The Court's finding that petitioner's takeover of the management and operations of CBLT was with the consent of private...