Emelito R. Jugo II vs. Nicanor S. Tamayo

[SEC-SICD * CASE NO. 2923. September 11, 1987.] EMELITO R. JUGO II , petitioner , vs . NICANOR S. TAMAYO , respondent . D E C I S I O N A compromise agreement, signed by the parties, assisted by their respective counsels, having been submitted to this Commission, the terms and conditions of which reads as follows: "1. That the petitioner admits the legitimacy, legality and validity of the ownership and title of respondent over the 43,750 shares of stock of I.T. (International) Corporation, and, therefore, respectfully withdraws and dismisses the instant complaint as well as, any and all other claims herein; 2. That likewise, the herein respondent waives and renounces all his counterclaim against the petitioner, and offers no objection to the dismissal of the complaint." and finding the same not contrary to law, morals and public policy, the said compromise agreement is hereby approved and judgment is hereby rendered in accordance therewith. The complaint, as well as the counterclaim are hereby dismissed. No pronouncement as to costs. (SGD.) FELIPE S. TONGCO Hearing Officer