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Florete vs. Florente

ROGELIO M. FLORETE, SR., THE ESTATE OF THE LATE TERESITA F. MENCHAVEZ, REPRESENTED BY MARY ANN THERESE F. MENCHAVEZ, ROSIE JILL F. MENCHAVEZ, MA. ROSARIO F. MENCHAVEZ, CRISTINE JOY F. MENCHAVEZ, AND EPHRAIM MENCHAVEZ, AND DIANE GRACE F. MENCHAVEZ, PETITIONERS, V. MARCELINO M. FLORETE, JR. AND MA. ELENA F. MUYCO, RESPONDENTS.

G.R. No. 223321 | 2018-04-02

D E C I S I O N
 
PERALTA, J.:
 
Before us is a petition for review on certiorari seeking to nullify the Decision[1] dated August 3, 2015 of the Court of Appeals in CA-G.R. SP No. 07673, as well as the Resolution[2] dated February 19, 2016 denying the motion for reconsideration thereof.
 
On October 7, 1966, Marsal & Co., Inc. (Marsal) was organized as a close corporation by Marcelino Sr., Salome, Rogelio, Marcelino Jr., Ma. Elena, and Teresita (all surnamed Florete). Since its incorporation, the Articles of Incorporation (AOI) had been amended[3] several times to increase its authorized capital stocks...