Zosimo Rivas vs. Ezekiel F. Toeg, et al.
SEC-AC No. 025 • Securities and Exchange Commission • Commission En Banc • Apr 21, 1980
Full text
[SEC-AC NO. 025. April 21, 1980.] (SEC CASE NO. 1719) ZOSIMO RIVAS, ET AL. , petitioners , vs . EZEKIEL F. TOEG, ET AL. , respondents . O R D E R Before the Commission en Banc is an appeal from the Order of May 31, 1979, granting the issuance of the writ of preliminary injunction enjoining respondents/appellants from performing the acts therein sought to be restrained. LLphil Reading the appealed Order, the decisive factor in the issuance of the writ of injunction apparently was the resolution of the City Fiscal of Manila in I.S. No. 79-47-40 finding prima facie case of theft against respondents therein, the same herein appellants Ezekiel F. Toeg, Teodoro Bundang and Jacob (James) Isaac. This finding, however, was lately reversed by the Minister of Justice in his letter-directive to the City Fiscal of Manila (See Annex 1, appellants' Manifestation and Motion). This being the case, the appealed Order should be reversed, the very foundation upon which the writ of preliminary injunction was issued had ceased to exist. WHEREFORE, the appealed Order is hereby reversed and, accordingly, the writ of preliminary injunction is hereby lifted and dissolved. Respondents-appellants may now proceed to perform their functions as officers elected on January 22, 1979 elections. Let the records of the case be remanded to the Hearing Officer for trial on the merits. SO ORDERED. (SGD.) ANGEL L. LIMJOCO, JR. Chairman (SGD.) JULIO A. SULIT, JR. (SGD.) SIXTO T. J. DE GUZMAN, JR Associate Commissioner Associate Commissioner
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