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Hilario A. Clemente, et al. vs. Telecommunications Savings & Loan Association, Inc., et al.

SEC Case No. 3148 (Order) • Securities and Exchange Commission • Orders • Aug 3, 1987

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[SEC CASE NO. 3148. August 3, 1987.] HILARIO A. CLEMENTE and NATIVIDAD PIGUERRA , petitioners , vs . TELECOMMUNICATIONS SAVINGS & LOAN ASSOCIATION, INC., ET AL. , respondents . O R D E R The petitioners filed this "Motion For Judgment On The Pleadings" following the filing of an Answer by Matias Austria, one of the nine respondents, wherein he made admission on practically all the allegations in the petition. The rest of the respondents expectedly filed their opposition to said motion arguing among others that "with respect to respondent Matias Austria, no judgment on the pleading could be done at this point in time because as already mentioned there are other issues still to be resolved and passing judgment on the answer of Austria alone will not totally terminate the case . . . it will only be an exercise in futility." To be sure, petitioners' Motion For Judgment is not without basis in so far as respondent Matias Austria is concerned, yet, prudence motivated by established procedure makes our thinking attuned to the other respondents' opposition and/or counter-arguments. Viewed in this light action on Austria's Motion is hereby held in abeyance until all parties concerned shall have been heard in order for the Commission to have itself be imbued with the proper perspective in resolving the said Motion For Judgment on the Pleadings, dated June 29, 1987. SO ORDERED. (SGD.) BERNARDO T. ESPEJO Hearing Officer

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