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Sixto L. Orosa, Jr., Et Al. Vs. Court Of Appeals, Et Al.

SIXTO L. OROSA, JR., JOSE URANZA, GERVACIO E. FERIA, WILLIAM T. GUIDO and AZUCENA A. REYES, petitioners, vs. COURT OF APPEALS and MERCANTILE FINANCING CORPORATION, respondents. Poncevic M. Ceballos for petitioners. Romero, Lagman, Valdecantos & Arreza Law Offices for private respondent.

G.R. Nos. 76828-32 | 1991-01-28

D E C I S I O N


MELENCIO-HERRERA, J.:

Commanding attention in this Petition for Review on Certiorari is the question of the proper forum that should take cognizance of these five (5) cases. Is it the Regional Trial Court or the Securities and Exchange Commission?

Shorn of the specific details in each individual transaction, the antecedents are briefly related hereunder.

Sometime prior to 18 August 1983, Sixto L. Orosa, Jr., Jose Uranza, Gervacio E. Feria, William T. Guido, and Azucena A. Reyes (hereinafter, Petitioners) made individual money market placements with private respondent, the Mercantile Financing Corporation (briefly,...