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TCL Sales Corp and Anna Teng vs Hon. CA & Ting Ping Lay

TCL SALES CORPORATION and ANNA TENG, petitioners, vs. HON. COURT OF APPEALS and TING PING LAY, respondents.

G.R. No. 129777 | 2001-01-05

D E C I S I O N

QUISUMBING, J.:

Before us is a petition for review on certiorari under Rule 45 assailing the decision[1] dated January 31, 1997 and the resolution[2] dated July 2, 1997 of the Court of Appeals in CA G.R. SP No. 42035 captioned "TCL Sales Corporation, et al., vs. Ting Ping Lay." The decision and resolution of respondent court affirmed the en banc decision[3] of the Securities and Exchange Commission (SEC) dated June 11, 1996, which affirmed with modification the decision[4] of the SEC hearing officer dated July 20, 1994.

The facts as found by the Court of Appeals are as follows:

"Respondent TCL Corporation was organized...