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Virginia Gochan, et al vs Mercedes Gochan, et al

VIRGINIA GOCHAN, LOUISE GOCHAN, LAPU-LAPU REAL ESTATE CORPORATION, FELIX GOCHAN AND SONS REALTY CORPORATION, MACTAN REALTY DEVELOPMENT CORPORATION, petitioners, vs. MERCEDES GOCHAN, ALFREDO GOCHAN, ANGELINA GOCHAN-HERNAEZ, MA. MERCED GOCHAN GOROSPE, CRISPO GOCHAN, JR., and MARLON GOCHAN, respondents.

G.R. No. 146089 | 2001-12-13

D E C I S I O N

YNARES-SANTIAGO, J.:

This is a petition for review seeking to set aside the decision of the Court of Appeals dated September 10, 1999 in CA-G.R. SP No. 49084,[1] as well as its Resolution[2] dated November 22, 2000, denying the Motion for Reconsideration.


Respondents were stockholders of the Felix Gochan and Sons Realty Corporation and the Mactan Realty Development Corporation. Sometime in 1996, respondents offered to sell their shares in the two corporations to the individual petitioners, the heirs of the late Ambassador Esteban Gochan, for and in consideration of the sum of P200,000,000.00. Petitioners accepted and paid the...