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Y-I Leisure Philippines Inc. vs. Yu [CONCURRING OPINION, LEONEN, J]

Y-I LEISURE PHILIPPINES, INC., YATS INTERNATIONAL LTD. AND Y-I CLUBS AND RESORTS, INC., PETITIONERS, VS. JAMES YU, RESPONDENT.

G.R. No. 207161 | 2015-09-08

CONCURRING OPINION

LEONEN, J.:

I concur in holding petitioners Yats International Ltd., Y-l Leisure Philippines, Inc., and Y-l Clubs and Resorts, Inc. liable to refund respondent James Yu's investment of P650,000.00 with legal interest.

The facts, as summarized in the ponencia,[1] involve a creditor's claim against a corporation that sold all or substantially all of its assets to another corporation. Respondent James Yu filed a collection suit against Mt. Arayat Development Co. Inc. (MADCI) and its then President Rogelio Sangil for the P650.000.00 respondent James Yu invested in shares of MADCI's golf and country club...