SPECIAL SECOND DIVISION
[G.R. No. 239147. June 3, 2019.]
JAMES NG AND ANTHONY NG, petitioners, vs.PHILIPPINE ASSET GROWTH TWO, INC., respondent.
NOTICE
Sirs/Mesdames :
Please take notice that the Court, Second Division, issued a Resolution dated03 June 2019which reads as follows:
"G.R. No. 239147 (James Ng and Anthony Ng v. Philippine Asset Growth Two, Inc.)
Petitioners James Ng and Anthony Ng (petitioners) filed a Motion for Reconsideration 1 on August 24, 2018, seeking the reversal and setting aside of the Resolution 2 dated June 18, 2018 of the Court denying their petition 3 for failure to sufficiently show that the Court of Appeals committed any reversible error in ruling that the Regional Trial Court of Quezon City, Branch 90 (RTC) gravely abused its discretion in denying 4 the motion to quash the Subpoena Duces Tecum and Ad Testificandum issued in their favor.
Subsequently, petitioners and respondent Philippine Asset Growth Two, Inc. (PAGTI) jointly moved 5 for the Court to render judgment based on the September 14, 2018 Compromise Agreement 6 entered into between them. The pertinent portions of the Compromise Agreement read:
"WHEREAS, in order to achieve peace and finally put an end to litigation, without admission of liability by any party, the parties have agreed to amicably settle the disputes by and between them;
NOW, THEREFORE, for and in consideration of the foregoing premises and for the mutual covenants and agreements hereinafter stated, the parties have agreed as follows:
1. James Ng and Anthony Ng agree to sell the subject properties on behalf of PAGTI in the net amount of x x x and, in doing so, shall exert their best effort to look for interested buyers and to perfect the sale thereof on or before 30 September 2018, supported by a Letter of Guaranty to be issued by BDO Unibank, Inc. ("BDO"). For this purpose, PAGTI shall issue a Non-Exclusive Authority to Sell Agreement in favor of either James Ng or Anthony Ng authorizing either of them to perfect the sale of the subject properties to any interested third party until 30 September 2018. The aforesaid purchase price shall be remitted by either James Ng or Anthony Ng to PAGTI in full within thirty (30) days from the issuance of the Letter of Guaranty by BDO. Either James Ng/Anthony Ng or the third-party buyer shall issue a manager's check payable to PAGTI to effect payment of the purchase price specified herein.
2. All taxes and expenses relative to the sale of the subject properties referred to above shall be for the sole account of the third-party buyer and/or James and Anthony Ng.
3. In selling the subject properties to any interested third party, either James Ng or Anthony Ng shall ensure that the buyer will comply with the internal policies of PAGTI relative to the disposition of assets, including but not limited to the accomplishment of the Offer to Buy Form, Client Information Sheet, Confirmation of Notice of Approval of Sale and Deed of Absolute Sale (using PAGTI's format).
4. Should James Ng or Anthony Ng fail to perfect and consummate the sale of the subject properties after thirty (30) days from the issuance of the Letter of Guaranty by BDO, they agree to unconditionally release, waive, and forever discharge PAGTI and all its officers, directors and employees from any liability, whether civil, criminal, administrative or otherwise, or from any claim of any kind or character involving the subject properties. In such case, James Ng and Anthony Ng shall voluntarily vacate the subject properties and turn over possession thereof to PAGTI not later than thirty (30) days from the lapse of the thirty-day period mentioned in paragraph 1 hereof, without need of any demand or filing of legal action.
5. The parties shall file the appropriate motions for judgment based on compromise, attaching a copy of this Agreement, with the courts where x x x are pending within ten (10) days from the execution of this Agreement.
6. In the event of a breach by any party of any provisions of this Agreement, the aggrieved party shall be entitled, upon motion duly filed in the appropriate court, to the issuance of a writ of execution for the purpose of ousting James Ng and Anthony Ng from the subject properties, including their lessees, agents or assigns, and to use other reasonable means necessary to take the possession thereof. This is without prejudice to other remedies which the aggrieved party may resort to in accordance with existing laws." 7 (Emphases supplied)
WHEREFORE, finding the terms and conditions in the Compromise Agreement to be validly executed and in accordance with law, morals, good customs, public policy, and public order, the Joint Motion for Judgment Based on Compromise Agreement is GRANTED and the instant case is hereby DISMISSED. The parties are enjoined to strictly comply with the terms and conditions of their agreement. No pronouncement as to costs.
No further pleadings or motions shall be entertained in this case. Let entry of final judgment be issued immediately.
SO ORDERED. (CAGUIOA, J., on official leave.)"
Very truly yours,
MARIA LOURDES C. PERFECTODivision Clerk of Court
By:
(SGD.) TERESITA AQUINO TUAZONDeputy Division Clerk of Court
Footnotes
1.Rollo, pp. 79-87.
2.Id. at 53-54. Signed by Deputy Division Clerk of Court Teresita Aquino Tuazon.
3.Id. at 3-22.
4. Not attached to the rollo.
5. See Joint Motion for Judgment Based on Compromise Agreement dated September 14, 2018; id. at 93-96.
6.Id. at 99-103.
7.Id. at 100-101.