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Freeman, Inc., et al. Vs. Securities and Exchange Commission, et al.

FREEMAN, INC., FREEMAN MANAGEMENT & DEVELOPMENT CORP., SAW CHIAO LIAN, LECHU S. LIM, PERLITA S. DYOGI, OLIVIA S. SANTOS, CARMEN S. SAW and RUBEN CHUA, petitioners, vs. THE SECURITIES AND EXCHANGE COMMISSION, SAW MUI, RUBEN SAW, DIONISIO SAW, LINA S. CHUA, LUCILA S. RUSTE and EVELYN SAW, respondents

G.R. No. 110265 | 1994-07-07

D E C I S I O N

BELLOSILLO, J p:

This petition for certiorari filed under Rule 65 of the Rules of Court seeks to annul and set aside the order of respondent Securities and Exchange Commission dated 7 January 1993 in SEC-EB No. 308 denying the action of petitioners to nullify the 7 January 1992 order of the Securities and Exchange Commission in SEC Case No. 3577.

Sometime in 1986 and 1987, Freeman, Inc. (FREEMAN), was granted a loan by Equitable Banking Corporation (EQUITABLE) as evidenced by two (2) promissory notes, P. N. No. 125957 dated 8 December 1986 for P1,700,000.00 payable 8 December 1987, and P.N. No. TL-369 dated 24 April 1987...