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MAGELLAN CAPITAL MANAGEMENT Corp and MAGELLAN CAPITAL HOLDINGS Corp vs ROLANDO M. ZOSA and HON. JOSE P. SOBERANO, JR., in his capacity as Presiding Judge of Branch 58 of the Regional Trial Court Of Cebu, 7th Judicial Region

MAGELLAN CAPITAL MANAGEMENT CORPORATION and MAGELLAN CAPITAL HOLDINGS CORPORATION, petitioners, vs. ROLANDO M. ZOSA and HON. JOSE P. SOBERANO, JR., in his capacity as Presiding Judge of Branch 58 of the Regional Trial Court Of Cebu, 7th Judicial Region, respondents.

G.R. No. 129916 | 2001-03-26

D E C I S I O N

BUENA, J.:

Under a management agreement entered into on March 18, 1994, Magellan Capital Holdings Corporation [MCHC] appointed Magellan Capital Management Corporation [MCMC] as manager for the operation of its business and affairs.[1] Pursuant thereto, on the same month, MCHC, MCMC, and private respondent Rolando M. Zosa entered into an "Employment Agreement" designating Zosa as President and Chief Executive Officer of MCHC.

Under the "Employment Agreement", the term of respondent Zosa's employment shall be co-terminous with the management agreement, or until March 1996,[2] unless sooner terminated pursuant to the...