Atty. Matias Defensor

April 22, 2002 SEC OPINION Atty. Matias Defensor Capitol Hills Golf and Country Club Capitol Hills Drive, Old Balara, Quezon City S i r : This refers to your letter dated April 2, 2002, requesting permission from the Commission to call for a Special Stockholders' Meeting of Capitol Hills Golf and Country Club Inc. on April 23, 2002, as well as, to use the accomplished proxy forms previously solicited, had been submitted and validated by the solicitor in the last scheduled meeting. It appears on record, that a temporary restraining order was issued on March 22, 2002 by the Regional Trial court, Branch 90 of Quezon City, which earlier has taken cognizance of the case, inhibiting the holding of special stockholders' meeting of the club on any scheduled date. The pertinent provision of the order states thus: WHEREFORE, let this Temporary Restraining Order be issued and the respondents, their representatives, agent/s or any person or persons in their behalf are ordered to refrain or desist from holding the special stockholders' meeting scheduled on March 22, 2002 at 3.00 p.m. (Annex "C" of the verified petition) or at any time thereafter, until further order from this Court . A careful perusal of the above-quoted proviso patently restrains the holding of meeting of the aforenamed corporation scheduled on March 22, 2002 and any meeting that may be set thereafter until further directive from said court. In view thereof, the Commission should refrain from interfering with the affairs of the court in deference to its judicial authority over the pending case before it. To grant your request is tantamount to a virtual encroachment of the court's jurisdiction and runs counter to the very mandate of the temporary restraining order. Accordingly, your request is thus denied. Very truly yours, (SGD.) BENITO A. CATARAN Director