Back

Honorio Saavedra Jr vs Securities & Exchange Comm.

HONORIO SAAVEDRA, JR., ESTER SAAVEDRA, CESAR SAAVEDRA, and ROEL BEJASA, petitioners, vs. SECURITIES AND EXCHANGE COMMISSION, GREGORIO RAMOS, NAPOLEN RAMOS, CELSO TINGCUNGCO, ARMANDO DOMINGO and CAROLINA SEBASTIAN, respondents.

G.R. No. L-80879 | 1988-03-21

R E S O L U T I O N


PADILLA, J.:

The petitioners seek the reversal and/or setting aside of SEC orders dated 23 November 1987 and 11 December 1987 and other orders issued in Securities and Exchange Commission (hereinafter, SEC) Case No. 3257 entitled "Gregorio Ramos, et al, vs. Honorio Saavedra, et al." Petitioner likewise seek to prohibit the SEC from proceeding with said case.

It appears that, on 20 November 1987, private respondents filed the abovementioned case with the SEC, alleging in their amended complaint that, on or about 2 July 1987, private respondents sold all their stocks, rights and interests in Pine Philippine Inc. to...