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Sabalburo v. King

SEC-SICD Case No. 01-95-4958 (Order) • Securities and Exchange Commission Departments • Securities Investigation and Clearing Department (SICD) • Feb 20, 1995

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[SEC-SICD * CASE NO. 01-95-4958. February 20, 1995.] MAXIMA L. SABALBURO , complainant , vs . SAMUEL KING, ET AL. , respondents . O R D E R For resolution is respondents' Motion To Dismiss dated February 4, 1995, as well as the comment/opposition thereto filed by complainant. Movants' motion to dismiss is anchored principally on the ground that the Commission does not have jurisdiction over the subject matter or nature of the suit or action. Movants alleged that complainant has no legal personality whatsoever to file the instant complaint because she is a non-unit owner of RSG Ermin Garcia Condominium Project. This was admitted by complainant and the owner of the unit in the RSG Condominium is her son Melquiodes Legardo. This being the case, there is no intra-corporate controversy between the parties and this case, therefore, is not within the jurisdiction of this Commission. The Supreme Court, in Philex Mining Corporation vs. Reyes, G.R. No. L-57707, November 19, 1982, defined intra-corporate controversy as "one which arises between a stockholder and the corporation. There is no distinction, qualification nor any exemption whatsoever." WHEREFORE, the motion to dismiss should be, as it is hereby GRANTED. Accordingly, this case is hereby dismissed for lack of jurisdiction. SO ORDERED. (SGD.) MACARIO P. MALLARI Hearing Officer

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