Topacio v. Aguila Security & Protective Agency, Inc.

[SEC-SICD * CASE NO. 4764. September 9, 1994.] BRIG. GEN. MANOLO P. TOPACIO (RET) , complainant , vs . AGUILA SECURITY & PROTECTIVE AGENCY, INC., & ZACARIAS B. BATINGAL , respondents . DECISION 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. The complainant invested TWENTY FIVE THOUSAND (P25,000.00) in the authorized capital stock of the respondent corporation for which the latter issued to the former the following certificates of stock: LLjur Stock Cert. Date Amount No. 0009 8 July 1993 P 5,000.00 0029 12 Jan. 1986 10,000.00 0030 1 Mar. 1986 10,000.00 2. The respondent corporation offers to return or reimburse to the complainant the amount of P25,000.00 on or before November 15, 1994 provided that the complainant shall, upon receipt of the amount P25,000.00, indorse and deliver to the respondent corporation the three (3) certificates of stock mentioned in the preceding paragraph. 3. The complainant accepts the offer of the respondent corporation to settle this case amicably subject to the following terms and conditions: 3.1 The amount of P25,000.00 shall be covered by a postdated check to be delivered to the complainant simultaneously with the signing of this Compromise Agreement. 3.2 In case the check tendered by the respondent corporation is dishonored or refused for payment by the bank on due date, the respondent corporation shall, in addition to the amount of P25,000.00 pay penalty thereon at the rate of 12% interest per annum reckoned from the date this Compromise Agreement is executed and the complainant is entities to secure from the Commission a Motion for Execution ex-parte . 4. Except those mentioned above, the complainant has no more claims against the respondent corporation. On the other hand, the respondents discharge and release the complainant from their counterclaim." 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. prcd No pronouncement as to costs. (SGD.) MACARIO P. MALLARI Hearing Officer