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First Philippine Holdings Corporation Vs. Sandiganbayan

FIRST PHILIPPINE HOLDINGS CORPORATION, petitioner, vs. SANDIGANBAYAN, Second Division, respondent. Quison, Makalintal, Barot, Ibarra & Sison for petitioner. Fiorello E. Azura for respondent APT.

G.R. No. 95197 | 1991-09-30

D E C I S I O N


SARMIENTO, J.:

This is a petition filed by the First Philippine Holdings Corporation to compel the Sandiganbayan to "consent to the lifting of the sequestration" over 13.9 million shares of the Manila Electric Company effected by the Presidential Commission on Good Government, as a result of an agreement between the parties on the disposition thereof. The facts are as follows:

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It appears from the motion and supporting documents that Meralco Securities Corporation (MSC) held all the common shares totalling 23,143,505, and preferred shares numbering 5,377,002, of the capital stock of Manila Electric Rail and...