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Y-I Leisure Philippines Inc. vs. Yu [CONCURRING OPINION, VELASCO, JR., 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
 

VELASCO, JR., J.:

I concur with the findings and conclusions of the ponencia that the purchase by the petitioners of substantially all of Mt. Arayat Development Co., Inc.'s (MADCI) assets which resulted in the cessation of the latter's operations carried with it the assumption of MADCI's liabilities to third persons, including respondent James Yu.

The Court is once again faced with the question of whether the sale by a corporation of all or substantially all of its assets to another entity would carry with it the obligation to settle the transferor's liabilities.

Let us briefly recall the...