Lee Oan Yu, Et Al. vs. Lorenzo Chua Bun Pho, et al.

[SEC-SICD * CASE NO. 4028. August 5, 1992.] LEE OAN YU, ET AL. , complainants , vs . LORENZO CHUA BUN PHO, ET AL. , respondents . D E C I S I O N The parties assisted by their counsels, submitted their JOINT COMPROMISE AGREEMENT dated July 20, 1992 the terms and conditions of which are as follows: 1. That respondents are now recognizing the validity of the Deed of Assignment of Lee Oan Yu, dated December 27, 1989, and that they will no longer interpose any objection to the transfer of the shares of stock mentioned in the said Deed in the Stock and Transfer Book of A.M. Chuabunpho Corporation; 2. That the respondents hereby agree to nullify and consider as without any binding force and effect the prior indorsement in blank of Lee Oan Yu on her original ten (10) stock certificates which she delivered to respondent Lorenzo Chua Bun Pho, the entries made by the respondents on the said stock certificates, and its registration in the Stock and Transfer Book of the Corporation; prcd 3. That the respondents hereby recognizes as valid all the stock certificates issued by the complainants pursuant to the Deed of Assignment of Lee Oan Yu, identified as Annexes "D", "D-1" to "D-9" of the Complaint, and the same may now be fully accomplished and recorded in the Stock and Transfer Book; 4. That, after proper entries in the Stock and Transfer Book of the Corporation, the parties hereby agree to dissolve as soon as feasible at the proper time, the A.M. Chuabunpho Corporation in accordance with law, liquidate all its assets, and distribute the proceeds thereof, after payment of all liabilities, if any, to all the parties hereto in accordance with and in proportion to their shareholdings, under such other terms and conditions in the formal dissolution of the Corporation may be agreed upon by the parties in a separate document; That, Chua Yee Ek and Enriqueta C. Ong-Siong, judicial guardians of Lee Oan Yu, are hereby given a free hand in establishing and maintaining the support fund of Lee Oan Yu, but in the meantime, the parties hereby agree to a minimum support fund of P50,000.00 per month, withdrawable at any time from the RCBC account of the Corporation. That, respondents are now ready and willing to deliver to the new management of the Corporation, under the supervision of the Honorable Commission all the papers owned by or pertaining to the A.M. Chuabunpho Corporation like the Pass Book of Special Savings Account No. 7-114-10291-6, with RCBC, all papers relating to the finances of the Corporation, like Official Receipts Booklets, owner's duplicate copies; of Transfer Certificates of Title covering all real properties presently owned by the A.M. Chuanbunpho Corporation; the Certificate of Stocks and other like papers or documents issued by other Corporations in favor of A.M. Chuabunpho Corporation evidencing investments of A. M. Chuabunpho Corporation with such entity or entities, the car owned by the Corporation and presently in the possession of respondent Joaquin Chua Bun Pho; and all other papers, documents and other personal properties which are owned by said Corporation. If any there are, and which may now be in the possession of respondents. 7. That, respondents Lorenzo Chua Bun Pho shall forthwith vacate House No. 105, Simoun Street, so that the guardian over the person of Lee Oan Yu may now occupy the same and discharge fully and freely her duties as such guardian over the person of Lee Oan Yu, without any physical impediments. WHEREFORE, the parties hereto hereby pray for the approval of the foregoing Compromise Agreement and that a Decision be rendered in accordance therewith. It appearing that said Joint Compromise Agreement is not contrary to law, morals and public policy, the same is hereby APPROVED and judgment is hereby rendered in accordance therewith. The parties are hereby enjoined to comply strictly with the terms and conditions of their JOINT COMPROMISE AGREEMENT. CDAEHS SO ORDERED. (SGD.) SILVINO T. PAMPILO, JR. Hearing Officer