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SEC vs. College Assurance Plan Philippines, Inc.

SECURITIES AND EXCHANGE COMMISSION (SEC) AND INSURANCE COMMISSION (IC), PETITIONERS, VS. COLLEGE ASSURANCE PLAN PHILIPPINES, INC., RESPONDENT.

G.R. No. 202052 | 2018-03-07

D E C I S I O N
 
BERSAMIN, J.:
 
The dispute concerns the use of the assets of the trust fund of the respondent as a pre-need company. We reiterate that the law clearly establishes the trust fund for the sole benefit of the planholders, and its assets cannot be used to satisfy the claims of the creditors of the company.
 
The Case

This appeal assails the decision promulgated on June 14, 2011,[1] whereby the Court of Appeals (CA) nullified the orders issued by the Regional Trial Court (RTC), Branch 149, in Makati City on April 29, 2009,[2] September 18, 2009[3] and January 18, 2010[4] in SP. No. M-6144...