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Sergio Osmena III, et al. vs. Social Security System (SSS)

SERGIO R. OSMENA III, JUAN M. FLAVIER, RODOLFO G. BIAZON, ALFREDO S. LIM, JAMBY A.S. MADRIGAL, LUIS F. SISON, AND PATRICIA C. SISON, Petitioners, versus SOCIAL SECURITY SYSTEM OF THE PHILIPPINES, SOCIAL SECURITY COMMISSION, CORAZON S. DELA PAZ, THELMO Y. CUNANAN, PATRICIA A. STO. TOMAS, FE TIBAYAN-PANLILEO, DONALD DEE, SERGIO R. ORTIZ-LUIS, JR., EFREN P. ARANZAMENDEZ, MARIANITA O. MENDOZA, and RAMON J. JABAR, in their capacities as Members of the Social Security Commission, AND BDO CAPITAL & INVESTMENT CORPORATION, Respondents.

G.R. No. 165272 | 2007-09-13

D E C I S I O N 
 
 
GARCIA, J.: 
 
Senator Sergio R. Osmeña III[1] and four (4) other members[2] of the Philippine Senate, joined by Social Security System (SSS) members Luis F. Sison and Patricia C. Sison, specifically seek in this original petition for certiorari and prohibition the nullification of the following issuances of respondent Social Security Commission (SSC): 
 
1) RESOLUTION No. 428[3] dated July 14, 2004; and 
2) RESOLUTION No. 485[4] dated August 11, 2004. 
 
The first assailed resolution approved the proposed sale of the entire equity stake of the SSS in what was then the...