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Prof. Joselito Guianan Chan's The Labor Code of the Philippines, Annotated Labor Standards & Social Legislation Volume I of a 3-Volume Series 2019 Edition (3rd Revised Edition)
 

 
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UNITED STATES SUPREME COURT JURISPRUDENCE
 

 
PHILIPPINE SUPREME COURT JURISPRUDENCE
 

   
August-2011 Jurisprudence                 

  • [G.R. No. 146206 : August 01, 2011] SAN MIGUEL FOODS, INCORPORATED, PETITIONER, VS. SAN MIGUEL CORPORATION SUPERVISORS AND EXEMPT UNION, RESPONDENT.

  • [G.R. No. 172110 : August 01, 2011] MINDA VILLAMOR, APPELLEE, VS. PEOPLE OF THE PHILIPPINES, APPELLANT. [G.R. NO. 181804] GLICERIO VIOS, JR., APPELLEE, VS. PEOPLE OF THE PHILIPPINES, APPELLANT.

  • [G.R. No. 171569 : August 01, 2011] UNION BANK OF THE PHILIPPINES, PETITIONER, VS. ALAIN* JUNIAT, WINWOOD APPAREL, INC., WINGYAN APPAREL, INC., NONWOVEN FABRIC PHILIPPINES, RESPONDENTS.

  • [A.M. No. P-11-2896 [Formerly OCA I.P.I. No. 08-2977-P] : August 02, 2011] PROSERPINA V. ANICO, COMPLAINANT, VS. EMERSON B. PILIPIÑA, SHERIFF IV, OFFICE OF THE CLERK OF COURT, REGIONAL TRIAL COURT, MANILA, RESPONDENT.

  • [G.R. No. 188086 : August 03, 2011] FRANCIS BELLO, REPRESENTED HEREIN BY HIS DAUGHTER AND ATTORNEY-IN-FACT, GERALDINE BELLO-ONA, PETITIONER, VS. BONIFACIO SECURITY SERVICES, INC. AND SAMUEL TOMAS, RESPONDENTS.

  • [G.R. No. 182237 : August 03, 2011] THE PEOPLE OF THE PHILIPPINES, APPELLEE, VS. TERENCIO FUNESTO Y LLOSPARDAS, APPELLANT.

  • [G.R. No. 169901 : August 03, 2011] PHILIPPINE NATIONAL BANK, PETITIONER, VS. CIRIACO JUMAMOY AND HEIRS OF ANTONIO GO PACE, REPRESENTED BY ROSALIA PACE, RESPONDENTS.

  • [G.R. No. 191995 : August 03, 2011] PHILIPPINE VETERANS BANK, PETITIONER, VS. JUSTINA CALLANGAN, IN HER CAPACITY AS DIRECTOR OF THE CORPORATION FINANCE DEPARTMENT OF THE SECURITIES AND EXCHANGE COMMISSION AND/OR THE SECURITIES AND EXCHANGE COMMISSION, RESPONDENT.

  • [G.R. No. 179344 : August 03, 2011] PEOPLE OF THE PHILIPPINES, PLAINTIFF-APPELLEE, VS. EDGARDO FERMIN Y GREGORIO AND JOB MADAYAG, JR., Y BALDERAS, ACCUSED-APPELLANTS.

  • [G.R. No. 183018 : August 03, 2011] ADVENT CAPITAL AND FINANCE CORPORATION, PETITIONER, VS. ROLAND YOUNG, RESPONDENT.

  • [G.R. No. 177816 : August 03, 2011] NIPPON HOUSING PHIL. INC., AND/OR TADASHI OTA, HOROSHI TAKADA, YUSUHIRO KAWATA, MR. NOBOYUSHI AND JOEL REYES PETITIONERS, VS. MAIAH ANGELA LEYNES, RESPONDENT.

  • [G.R. Nos. 174507-30 : August 03, 2011] ATTY. EMELITA H. GARAYBLAS AND ATTY. RENATO G. DE LA CRUZ, PETITIONERS, VS. THE HON. GREGORY ONG, HON. JOSE HERNANDEZ AND HON. RODOLFO PONFERRADA, AS CHAIRMAN & MEMBERS, RESPECTIVELY, 4TH DIVISION, SANDIGANBAYAN; AND PEOPLE OF THE PHILIPPINES, RESPONDENTS.

  • [G.R. No. 184454 : August 03, 2011] CO GIOK LUN, AS SUBSTITUTED BY HIS LEGAL HEIRS NAMELY: MAGDALENA D. CO, MILAGROS D. CO, BENJAMIN D. CO, ALBERT D. CO, ANGELITA C. TENG, VIRGINIA C. RAMOS, CHARLIE D. CO, AND ELIZABETH C. PAGUIO, PETITIONERS, VS. JOSE CO, AS SUBSTITUTED BY HIS LEGAL HEIRS NAMELY: ROSALINA CO, MARLON CO, JOSEPH CO, FRANK CO, ANTONIO CO, NELSON CO, ROLAND CO, JOHNSON CO, CORAZON CO, ADELA CO, SERGIO CO, PAQUITO CO, JOHN CO, NANCY CO, AND TERESITA CO, RESPONDENTS.

  • [G.R. No. 194031 : August 08, 2011] JOBEL ENTERPRISES AND/OR MR. BENEDICT LIM, PETITIONERS, VS. NATIONAL LABOR RELATIONS COMMISSION (SEVENTH DIVISION, QUEZON CITY) AND ERIC MARTINEZ, SR., RESPONDENTS.

  • [G.R. No. 152141 : August 08, 2011] CORNELIO DEL FIERRO, GREGORIO DEL FIERRO, ILDEFONSO DEL FIERRO, ASUNCION DEL FIERRO, CIPRIANO DEL FIERRO, MANUELA DEL FIERRO, AND FRANCISCO DEL FIERRO PETITIONERS, VS. RENE SEGUIRAN, RESPONDENT.

  • [G.R. No. 169510 : August 08, 2011] ATOK BIG WEDGE COMPANY, INC., PETITIONER, VS. JESUS P. GISON, RESPONDENT.

  • [G.R. No. 187858 : August 09, 2011] THE CIVIL SERVICE COMMISSION, PETITIONER, VS. RICHARD G. CRUZ, RESPONDENT.

  • [G.R. No. 167398 : August 09, 2011] AUGUSTUS GONZALES AND SPOUSES NESTOR VICTOR AND MA. LOURDES RODRIGUEZ, PETITIONERS, VS. QUIRICO PE, RESPONDENT.

  • [G. R. No. 195953 : August 09, 2011] CERIACO BULILIS, PETITIONER, VS. VICTORINO NUEZ, HON. PRESIDING JUDGE, 6TH MCTC, UBAY, BOHOL, HON. PRESIDING JUDGE, RTC, BRANCH 52, TALIBON, BOHOL, RESPONDENTS.

  • [G.R. No. 185352 : August 10, 2011] COASTAL SAFEWAY MARINE SERVICES INC., PETITIONER, VS. ELMER T. ESGUERRA, RESPONDENT.

  • [G.R. No. 193188 : August 10, 2011] PEOPLE OF THE PHILIPPINES, PLAINTIFF-APPELLEE, VS. JUANITO APATTAD, ACCUSED-APPELLANT.

  • [G.R. No. 187536 : August 10, 2011] PEOPLE OF THE PHILIPPINES, PLAINTIFF-APPELLEE, VS. MICHAEL BOKINGO ALIAS "MICHAEL BOKINGCO" AND REYNANTE COL, ACCUSED-APPELLANTS.

  • [G.R. No. 176008 : August 10, 2011] METROPOLITAN BANK AND TRUST COMPANY, SUBSTITUTED BY MERIDIAN (SPV-AMCI) CORPORATION, PETITIONER, VS. INTERNATIONAL EXCHANGE BANK, RESPONDENT. [G.R. NO. 176131] CHUAYUCO STEEL MANUFACTURING, PETITIONER, VS. INTERNATIONAL EXCHANGE BANK (NOW UNION BANK OF THE PHILIPPINES), RESPONDENT.

  • [G.R. No. 174926 : August 10, 2011] AMERICAN HOME INSURANCE CO. OF NEW YORK, PETITIONER, VS. F.F. CRUZ & CO., INC., RESPONDENT.

  • [G.R. No. 176350 : August 10, 2011] PEOPLE OF THE PHILIPPINES, APPELLEE, VS. JHON-JHON ALEJANDRO Y DELA CRUZ @ "NOGNOG," APPELLANT.

  • [G.R. No. 186487 : August 15, 2011] ROSITO BAGUNU, PETITIONER, VS. SPOUSES FRANCISCO AGGABAO & ROSENDA ACERIT, RESPONDENTS.

  • [G.R. No. 182178 : August 15, 2011] STEPHEN SY Y TIBAGONG, PETITIONER, VS. PEOPLE OF THE PHILIPPINES, RESPONDENT.

  • [G.R. No. 193379 : August 15, 2011] CESAR D. CASTRO, PETITIONER, VS. PEOPLE OF THE PHILIPPINES, RESPONDENT.

  • [G.R. No. 165476 : August 15, 2011] AGRIPINO V. MOLINA, PETITIONER, VS. PACIFIC PLANS, INC., RESPONDENT.

  • [G.R. No. 196426 : August 15, 2011] MARTICIO SEMBLANTE AND DUBRICK PILAR, PETITIONERS, VS. COURT OF APPEALS, 19TH DIVISION, NOW SPECIAL FORMER 19TH DIVISION, GALLERA DE MANDAUE / SPOUSES VICENTE AND MARIA LUISA LOOT, RESPONDENTS.

  • [G.R. No. 175073 : August 15, 2011] ESTATE OF MARGARITA D. CABACUNGAN, REPRESENTED BY LUZ LAIGO-ALI, PETITIONER, VS. MARILOU LAIGO, PEDRO ROY LAIGO, STELLA BALAGOT AND SPOUSES MARIO B. CAMPOS AND JULIA S. CAMPOS, RESPONDENTS.

  • [G.R No. 187167 : August 16, 2011] PROF. MERLIN M. MAGALLONA, AKBAYAN PARTY-LIST REP. RISA HONTIVEROS, PROF. HARRY C. ROQUE, JR., AND UNIVERSITY OF THE PHILIPPINES COLLEGE OF LAW STUDENTS, ALITHEA BARBARA ACAS, VOLTAIRE ALFERES, CZARINA MAY ALTEZ, FRANCIS ALVIN ASILO, SHERYL BALOT, RUBY AMOR BARRACA, JOSE JAVIER BAUTISTA, ROMINA BERNARDO, VALERIE PAGASA BUENAVENTURA, EDAN MARRI CAÑETE, VANN ALLEN DELA CRUZ, RENE DELORINO, PAULYN MAY DUMAN, SHARON ESCOTO, RODRIGO FAJARDO III, GIRLIE FERRER, RAOULLE OSEN FERRER, CARLA REGINA GREPO, ANNA MARIE CECILIA GO, IRISH KAY KALAW, MARY ANN JOY LEE, MARIA LUISA MANALAYSAY, MIGUEL RAFAEL MUSNGI, MICHAEL OCAMPO, JAKLYN HANNA PINEDA, WILLIAM RAGAMAT, MARICAR RAMOS, ENRIK FORT REVILLAS, JAMES MARK TERRY RIDON, JOHANN FRANTZ RIVERA IV, CHRISTIAN RIVERO, DIANNE MARIE ROA, NICHOLAS SANTIZO, MELISSA CHRISTINA SANTOS, CRISTINE MAE TABING, VANESSA ANNE TORNO, MARIA ESTER VANGUARDIA, AND MARCELINO VELOSO III, PETITIONERS, VS. HON. EDUARDO ERMITA, IN HIS CAPACITY AS EXECUTIVE SECRETARY, HON. ALBERTO ROMULO, IN HIS CAPACITY AS SECRETARY OF THE DEPARTMENT OF FOREIGN AFFAIRS, HON. ROLANDO ANDAYA, IN HIS CAPACITY AS SECRETARY OF THE DEPARTMENT OF BUDGET AND MANAGEMENT, HON. DIONY VENTURA, IN HIS CAPACITY AS ADMINISTRATOR OF THE NATIONAL MAPPING & RESOURCE INFORMATION AUTHORITY, AND HON. HILARIO DAVIDE, JR., IN HIS CAPACITY AS REPRESENTATIVE OF THE PERMANENT MISSION OF THE REPUBLIC OF THE PHILIPPINES TO THE UNITED NATIONS, RESPONDENTS.

  • [A.M. No. RTJ-06-2014 : August 16, 2011] NILDA VERGINESA-SUAREZ, COMPLAINANT, VS. JUDGE RENATO J. DILAG AND COURT STENOGRAPHER III CONCEPCION A. PASCUA, RESPONDENTS. [A.M. No. RTJ-11-2293 (formerly A.M. No. 06-07-415-RTC)] OFFICE OF THE COURT ADMINISTRATOR, COMPLAINANT, VS. JUDGE RENATO J. DILAG, ESTER A. ASILO, OFFICER-IN-CHARGE, COURT STENOGRAPHER III, REGIONAL TRIAL COURT, BRANCH 73, OLONGAPO CITY, ZAMBALES, AND ATTY. RONALD D. GAVINO, DEPUTY CLERK OF COURT, OFFICE OF THE CLERK OF COURT, REGIONAL TRIAL COURT, OLONGAPO CITY RESPONDENTS.

  • [G.R. No. 174654 : August 17, 2011] FELIXBERTO A. ABELLANA, PETITIONER, VS. PEOPLE OF THE PHILIPPINES AND SPOUSES SAAPIA B. ALONTO AND DIAGA ALONTO, RESPONDENTS.

  • [G.R. No. 159941 : August 17, 2011] HEIRS OF SPOUSES TEOFILO M. RETERTA AND ELISA RETERTA, NAMELY: EDUARDO M. RETERTA, CONSUELO M. RETERTA, AND AVELINA M. RETERTA, PETITIONERS, VS. SPOUSES LORENZO MORES AND VIRGINIA LOPEZ, RESPONDENTS.

  • [G.R. No. 168008 : August 17, 2011] PETRONILO J. BARAYUGA, PETITIONER, VS. ADVENTIST UNIVERSITY OF THE PHILIPPINES, THROUGH ITS BOARD OF TRUSTEES, REPRESENTED BY ITS CHAIRMAN, NESTOR D. DAYSON, RESPONDENTS.

  • [G.R. No. 193629 : August 17, 2011] RCJ BUS LINES, INCORPORATED, PETITIONER, VS. STANDARD INSURANCE COMPANY, INCORPORATED, RESPONDENT.

  • [G.R. No. 166970 : August 17, 2011] MA. ANA M. TAMONTE AND EDILBERTO A. TAMONTE, PETITIONERS, VS. HONGKONG AND SHANGHAI BANKING CORPORATION LTD., HONGKONG AND SHANGHAI BANKING CORPORATION STAFF RETIREMENT PLAN, REPRESENTED BY ATTY. MANUEL G. MONTECILLO, STUART P. MILNE AND ALEJANDRO CUSTODIO; ALEJANDRO CUSTODIO; RTC CLERK OF COURT & EX-OFFICIO SHERIFF AND SHERIFF IN CHARGE CLEMENTE BOLOY AND BENEDICTO G. HEBRON, RESPECTIVELY, RESPONDENTS.

  • [G.R. No. 188562 : August 17, 2011] PEOPLE OF THE PHILIPPINES, PLAINTIFF-APPELLEE, VS. RODEL LANUZA Y BAGAOISAN, ACCUSED-APPELLANT.

  • [G.R. No. 171634 : August 17, 2011] LEONARDO S. UMALE, SUBSTITUTED BY CLARISSA VICTORIA UMALE,[1] PETITIONER, VS. ATTY. ALFREDO VILLAMOR, JR., RESPONDENT.

  • [G.R. No. 156358 : August 17, 2011] ANGELINA PAHILA-GARRIDO, PETITIONER, VS. ELIZA M. TORTOGO, LEONILA FLORES, ANANIAS SEDONIO, ADELINO MONET, ANGIE MONET, JUANITO GARCIA, ELEONOR GARCIA, BENITA MOYA, JULIO ALTARES, LEA ALTARES, CLARITA SABIDO, JULIE ANN VILLAMOR, JUANITA TUALA, VICTOR FLORES III, JOHNNY MOYA, HAZEL AVANCEÑA, SONIA EVANGELIO, AND GENNY MONTAÑO, RESPONDENTS.

  • [G.R. No. 152239 : August 17, 2011] MAKING ENTERPRISES, INC. AND SPOUSES JOAQUIN TAMANO AND ANGELITA TAMANO, PETITIONERS, VS. JOSE MARFORI AND EMERENCIANA MARFORI, RESPONDENTS.

  • [G.R. No. 153829 : August 17, 2011] ROMAN CATHOLIC ARCHBISHOP OF SAN FERNANDO, PAMPANGA REPRESENTED HEREIN BY THE INCUMBENT ARCHBISHOP, PETITIONER, VS. EDUARDO SORIANO, JR., EDNA YALUN, EVANGELINA ABLAZA, FELICIDAD Y. URBINA, FELIX SALENGA, REYNALDO I. MALLARI, MARCIANA B. BARCOMA, BIENVENIDO PANGANIBAN, BRIGIDA NAVARRO, EUFRANCIA T. FLORES, VICTORIA B. SUDSOD, EUFRONIO CAPARAS, CRISANTO MANANSALA, LILY MASANGCAY, BENJAMIN GUINTO, JR., MARTHA G. CASTRO AND LINO TOLENTINO, RESPONDENTS. [G.R. NO. 160909] BENJAMIN GUINTO, JR.,[1] PETITIONER, VS. ROMAN CATHOLIC ARCHBISHOP OF SAN FERNANDO, PAMPANGA REPRESENTED HEREIN BY THE INCUMBENT ARCHBISHOP, RESPONDENT.

  • [G.R. No. 163827 : August 17, 2011] DEVELOPMENT BANK OF THE PHILIPPINES, PETITIONER, VS. HON. SILVERIO Q. CASTILLO AND CRISTINA TRINIDAD ZARATE ROMERO, RESPONDENTS.

  • [G.R. No. 167545 : August 17, 2011] ATIKO TRANS, INC. AND CHENG LIE NAVIGATION CO., LTD., PETITIONERS, VS. PRUDENTIAL GUARANTEE AND ASSURANCE, INC., RESPONDENT.

  • [G.R. No. 190317 : August 22, 2011] PEOPLE OF THE PHILIPPINES, PLAINTIFF-APPELLEE, VS. LARRY TORRES, SR., ACCUSED-APPELLANT.

  • [G.R. No. 193161 : August 22, 2011] DIOSDADO S. MANUNGAS, PETITIONER, VS. MARGARITA AVILA LORETO AND FLORENCIA AVILA PARREÑO, RESPONDENTS.

  • [G.R. No. 163433 : August 22, 2011] SPOUSES NELSON R. VILLANUEVA AND MYRA P. VILLANUEVA, PETITIONERS, VS. THE COURT OF APPEALS, PROVIDENT RURAL BANK OF SANTA CRUZ (LAGUNA), INC., AND THE CLERK OF COURT OF THE REGIONAL TRIAL COURT OF LAGUNA AS EX-OFFICIO PROVINCIAL SHERIFF, RESPONDENTS.

  • [G.R. Nos. 192147 & 192149 : August 23, 2011] RENALD F. VILANDO, PETITIONER, VS. HOUSE OF REPRESENTATIVES ELECTORAL TRIBUNAL, JOCELYN SY LIMKAICHONG AND HON. SPEAKER PROSPERO NOGRALES, RESPONDENTS.

  • [A.M. No. 2011-01-SC : August 23, 2011] RE: LETTER-COMPLAINT OF MR. RECARREDO S. VALENZUELA, CLERK IV, PERSONNEL DIVISION, OAS-OCA AGAINST MR. RICARDO R. GIGANTO, UTILITY WORKER II, PERSONNEL DIVISION, OAS-OCA

  • [G.R. No. 165828 : August 24, 2011] NATIONAL POWER CORPORATION, PETITIONER, VS. HEIRS OF MACABANGKIT SANGKAY, NAMELY: CEBU, BATOWA-AN, SAYANA, NASSER, MANTA, EDGAR, PUTRI , MONGKOY*, AND AMIR, ALL SURNAMED MACABANGKIT, RESPONDENTS.

  • [G.R. No. 173180 : August 24, 2011] ALBERT TISON AND CLAUDIO L. JABON, PETITIONERS, VS. SPS. GREGORIO POMASIN AND CONSORCIA PONCE POMASIN, DIANNE POMASIN PAGUNSAN, CYNTHIA POMASIN, SONIA PEROL, ANTONIO SESISTA, GINA SESISTA, AND REYNALDO SESISTA, RESPONDENTS.

  • [G.R. No. 172331 : August 24, 2011] RAMON ARANDA, PETITIONER, VS. REPUBLIC OF THE PHILIPPINES, RESPONDENT.

  • [G.R. No. 160322 : August 24, 2011] PILIPINO TELEPHONE CORPORATION, PETITIONER, VS. RADIOMARINE NETWORK (SMARTNET) PHILIPPINES, INC., RESPONDENT.

  • [A.M. No. P-10-2739 [Formerly OCA I.P.I. No. 08-3015-P] : August 24, 2011] WILFRIED ERDENBERGER, COMPLAINANT, VS. JOHN V. AQUINO, CLERK OF COURT, REGIONAL TRIAL COURT, OFFICE OF THE CLERK OF COURT, OLONGAPO CITY, RESPONDENT.

  • [G.R. No. 188775 : August 24, 2011] CENON R. TEVES, PETITIONER, VS. PEOPLE OF THE PHILIPPINES AND DANILO R. BONGALON, RESPONDENTS.

  • [G.R. No. 188995 : August 24, 2011] EXPORT PROCESSING ZONE AUTHORITY (NOW PHILIPPINE EXPORT ZONE AUTHORITY), PETITIONER, VS. JOSE PULIDO, VICENTA PANGANIBAN, RURAL BANK OF SALINAS, INC., FRANCISCA M. PRODIGALIDAD, ABELARDO PRODIGALIDAD, CARMEN PRECIOSA TABLANTE, CARMENCITA M. PRODIGALIDAD, MELVIN J. BOUCHER, MARY LOU M. PRODIGALIDAD, SALVADOR MENES, JR., DELILAH M. PRODIGALIDAD, NANNETTE M. PRODIGALIDAD, ANSELMO M. PRODIGALIDAD III, GREGORIO M. PRODIGALIDAD, AND ESTATE OF SALUD JIMENEZ, RESPONDENTS.

  • [G.R. No. 176129 : August 24, 2011] HEIRS OF RODOLFO CRISOSTOMO (EUPROCINIA, ROYCE AND IRISH CRISOSTOMO), PETITIONERS, VS. RUDEX INTERNATIONAL DEVELOPMENT CORPORATION, RESPONDENT.

  • [G.R. No. 184960 : August 24, 2011] PEOPLE OF THE PHILIPPINES, PLAINTIFF-APPELLEE, VS. CLEOFE BAROQUILLO Y VILLANUEVA AND LEONARDO MAHILUM Y CAÑETE, ACCUSED-APPELLANTS.

  • [A.C. No. 6689 : August 24, 2011] RIZALINA L. GEMINA, COMPLAINANT, VS. ATTY. ISIDRO S. MADAMBA, RESPONDENT.

  • [G.R. No. 168973 : August 24, 2011] CITY OF DUMAGUETE, HEREIN REPRESENTED BY CITY MAYOR, AGUSTIN R. PERDICES, PETITIONER, VS. PHILIPPINE PORTS AUTHORITY, RESPONDENT.

  • [G.R. No. 183789 : August 24, 2011] POWER SECTOR ASSETS AND LIABILITIES MANAGEMENT CORPORATION, PETITIONER, VS. POZZOLANIC PHILIPPINES INCORPORATED, RESPONDENT.

  • [G.R. No. 176091 : August 24, 2011] RENE ANTONIO, PETITIONER, VS. GREGORIO MANAHAN, RESPONDENT.

  • [G.R. No. 171468 : August 24, 2011] NEW WORLD INTERNATIONAL DEVELOPMENT (PHILS.), INC., PETITIONER, VS. NYK-FILJAPAN SHIPPING CORP., LEP PROFIT INTERNATIONAL, INC. (ORD), LEP INTERNATIONAL PHILIPPINES, INC., DMT CORP., ADVATECH INDUSTRIES, INC., MARINA PORT SERVICES, INC., SERBROS CARRIER CORPORATION, AND SEABOARD-EASTERN INSURANCE CO., INC., RESPONDENTS. [G.R. NO. 174241] NEW WORLD INTERNATIONAL DEVELOPMENT (PHILS.), INC., PETITIONER, VS. SEABOARD-EASTERN INSURANCE CO., INC., RESPONDENT.

  • [G.R. No. 185023 : August 24, 2011] CITY OF PASIG, REPRESENTED BY THE CITY TREASURER AND THE CITY ASSESSOR, VS. PETITIONER, REPUBLIC OF THE PHILIPPINES, REPRESENTED BY THE PRESIDENTIAL COMMISSION ON GOOD GOVERNMENT, RESPONDENT.

  • [G.R. No. 172660 : August 24, 2011] EUGENIO BASBAS, TEOFILO ARAS, RUFINO ARAS, GERVACIO BASBAS, ISMAEL ARAS, EUGENIO ARAS, SIMFRONIO ARAS, FELICIANO ARAS, ROSITA ARAS, EUGENIO BASBAS, JR. AND SPOUSES PABLITO BASARTE AND MARCELINA BASBAS BASARTE, PETITIONERS, VS. BEATA SAYSON AND ROBERTO SAYSON, JR., RESPONDENTS.

  • [G.R. No. 174774 : August 31, 2011] PEOPLE OF THE PHILIPPINES, PLAINTIFF-APPELLEE, VS. ROLANDO S. DELOS REYES, ALIAS "BOTONG," AND RAYMUNDO G. REYES, ALIAS "MAC-MAC," ACCUSED-APPELLANTS.

  • [G.R. No. 175289 : August 31, 2011] CRISOSTOMO VILLARIN AND ANIANO LATAYADA, PETITIONERS, VS. PEOPLE OF THE PHILIPPINES, RESPONDENT.

  • [G.R. No. 170728 : August 31, 2011] D. M. WENCESLAO AND ASSOCIATES, INC., PETITIONER, VS. CITY OF PARAAQUE, PARAAQUE CITY ASSESSOR, PARAAQUE CITY TREASURER AND PARAAQUE CITY COUNCIL, RESPONDENTS.

  • [G.R. No. 184053 : August 31, 2011] PEOPLE OF THE PHILIPPINES, PLAINTIFF-APPELLEE, VS. VIRGINIA BABY P. MONTANER, ACCUSED-APPELLANT.

  • [G.R. No. 175074 : August 31, 2011] JESUS TORRES, PETITIONER, VS. PEOPLE OF THE PHILIPPINES, RESPONDENT.

  • [G.R. No. 165025 : August 31, 2011] FEDMAN DEVELOPMENT CORPORATION, PETITIONER, VS. FEDERICO AGCAOILI, RESPONDENT.

  • [G.R. No. 155849 : August 31, 2011] LORENZO SHIPPING CORPORATION, OCEANIC CONTAINER LINES, INC., SOLID SHIPPING LINES CORPORATION, SULPICIO LINES, INC., ET AL., PETITIONERS, VS. DISTRIBUTION MANAGEMENT ASSOCIATION OF THE PHILIPPINES, LORENZO CINCO, AND CORA CURAY, RESPONDENTS.

  • [G.R. No. 173792 : August 31, 2011] PEOPLE OF THE PHILIPPINES, PLAINTIFF-APPELLEE, VS. ROSARIO "ROSE" OCHOA, ACCUSED-APPELLANT.

  • [G.R. No. 181902 : August 31, 2011] PEOPLE OF THE PHILIPPINES, PLAINTIFF-APPELLEE, VS. EDGAR EVANGELIO Y GALLO, JOSEPH EVANGELIO, ATILANO AGATON Y OBICO, AND NOEL MALPAS Y GARCIA, ACCUSED. JOSEPH EVANGELIO, ACCUSED-APPELLANT.

  • [G.R. No. 176077 : August 31, 2011] ABRAHAM MICLAT, JR. Y CERBO, PETITIONER, VS. PEOPLE OF THE PHILIPPINES, RESPONDENT.

  • [G.R. No. 175991 : August 31, 2011] JOSE R. CATACUTAN, PETITIONER, VS. PEOPLE OF THE PHILIPPINES, RESPONDENT.

  • [G.R. No. 186387 : August 31, 2011] THE PEOPLE OF THE PHILIPPINES, PLAINTIFF-APPELLEE, VS. JUAN MENDOZA Y VICENTE, ACCUSED-APPELLANT.

  • [G.R. No. 174980 : August 31, 2011] RADITO AURELIO Y REYES, PETITIONER, VS. PEOPLE OF THE PHILIPPINES, RESPONDENT.

  • [G.R. No. 179978 : August 31, 2011] DCD CONSTRUCTION, INC., PETITIONER, VS. REPUBLIC OF THE PHILIPPINES, RESPONDENT.

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    [G.R. No. 191995 : August 03, 2011]   PHILIPPINE VETERANS BANK, PETITIONER, VS. JUSTINA CALLANGAN, IN HER CAPACITY AS DIRECTOR OF THE CORPORATION FINANCE DEPARTMENT OF THE SECURITIES AND EXCHANGE COMMISSION AND/OR THE SECURITIES AND EXCHANGE COMMISSION, RESPONDENT.

     
    SECOND DIVISION

    [G.R. No. 191995 : August 03, 2011]

    PHILIPPINE VETERANS BANK, PETITIONER, VS. JUSTINA CALLANGAN, IN HER CAPACITY AS DIRECTOR OF THE CORPORATION FINANCE DEPARTMENT OF THE SECURITIES AND EXCHANGE COMMISSION AND/OR THE SECURITIES AND EXCHANGE COMMISSION, RESPONDENT.

    R E S O L U T I O N


    BRION, J.:

    We resolve the motion for reconsideration[1] filed by petitioner Philippine Veterans Bank (the Bank) dated August 5, 2010, addressing our June 16, 2010 Resolution that denied the Bank's petition for review on certiorari.

    Factual Antecedents

    On March 17, 2004, respondent Justina F. Callangan, the Director of the Corporation Finance Department of the Securities and Exchange Commission (SEC), sent the Bank a letter, informing it that it qualifies as a "public company" under Section 17.2 of the Securities Regulation Code (SRC) in relation with Rule 3(1)(m) of the Amended Implementing Rules and Regulations of the SRC. The Bank is thus required to comply with the reportorial requirements set forth in Section 17.1 of the SRC.[2]

    The Bank responded by explaining that it should not be considered a "public company" because it is a private company whose shares of stock are available only to a limited class or sector, i.e., to World War II veterans, and not to the general public.[3]

    In a letter dated April 20, 2004, Director Callangan rejected the Bank's explanation and assessed it a total penalty of One Million Nine Hundred Thirty-Seven Thousand Two Hundred Sixty-Two and 80/100 Pesos (P1,937,262.80) for failing to comply with the SRC reportorial requirements from 2001 to 2003. The Bank moved for the reconsideration of the assessment,  but Director Callangan denied the motion in SEC-CFD Order No. 085, Series of 2005 dated July 26, 2005.[4] When the SEC En Banc also dismissed the Bank's appeal for lack of merit in its Order dated August 31, 2006, prompting the Bank to file a petition for review with the Court of Appeals (CA).[5]

    On March 6, 2008, the CA dismissed the petition and affirmed the assailed SEC ruling, with the modification that the assessment of the penalty be recomputed from May 31, 2004.[6]

    The CA also denied the Bank's motion for reconsideration,[7] opening the way for the Bank's petition for review on certiorari filed with this Court.[8]

    On June 16, 2010, the Court denied the Bank's petition for failure to show any reversible error in the assailed CA decision and resolution.[9]

    The Motion for Reconsideration

    The Bank reiterates that it is not a "public company" subject to the reportorial requirements under Section 17.1 of the SRC because its shares can be owned only by a specific group of people, namely, World War II veterans and their widows, orphans and compulsory heirs, and is not open to the investing public in general. The Bank also asks the Court to take into consideration the financial impact to the cause of "veteranism"; compliance with the reportorial requirements under the SRC, if the Bank would be considered a "public company," would compel the Bank to spend approximately P40 million just to reproduce and mail the "Information Statement" to its 400,000 shareholders nationwide.

    The Court's Ruling

    We DENY the motion for reconsideration for lack of merit.

    To determine whether the Bank is a "public company" burdened with the reportorial requirements ordered by the SEC, we look to Subsections 17.1 and 17.2 of the SRC, which provide:

    Section 17. Periodic and Other Reports of Issuers. -

    17.1. Every issuer satisfying the requirements in Subsection 17.2 hereof shall file with the Commission:

    a)  Within one hundred thirty-five (135) days, after the end of the issuer's fiscal year, or such other time as the Commission may prescribe, an annual report which shall include, among others, a balance sheet, profit and loss statement and statement of cash flows, for such last fiscal year, certified by an independent certified public accountant, and a management discussion and analysis of results of operations; and

    b) Such other periodical reports for interim fiscal periods and current reports on significant developments of the issuer as the Commission may prescribe as necessary to keep current information on the operation of the business and financial condition of the issuer.

    17.2. The reportorial requirements of Subsection 17.1 shall apply to the following:

    x x x x

    c) An issuer with assets of at least Fifty million pesos (P50,000,000.00) or such other amount as the Commission shall prescribe, and having two hundred (200) or more holders each holding at least one hundred (100) shares of a class of its equity securities: Provided, however, That the obligation of such issuer to file reports shall be terminated ninety (90) days after notification to the Commission by the issuer that the number of its holders holding at least one hundred (100) shares is reduced to less than one hundred (100).  (emphases supplied)

    We also cite Rule 3(1)(m) of the Amended Implementing Rules and Regulations of the SRC, which defines a "public company" as "any corporation with a class of equity securities listed on an Exchange or with assets in excess of Fifty Million Pesos (P50,000,000.00) and having two hundred (200) or more holders, at least two hundred (200) of which are holding at least one hundred (100) shares of a class of its equity securities."

    From these provisions, it is clear that a "public company," as contemplated by the SRC, is not limited to a company whose shares of stock are publicly listed; even companies like the Bank, whose shares are offered only to a specific group of people, are considered a public company, provided they meet the requirements enumerated above.

    The records establish, and the Bank does not dispute, that the Bank has assets exceeding P50,000,000.00 and has 395,998 shareholders.[10]  It is thus considered a public company that must comply with the reportorial requirements set forth in Section 17.1 of the SRC.

    The Bank also argues that even assuming it is considered a "public company" pursuant to Section 17 of the SRC, the Court should interpret the pertinent SRC provisions in such a way that no financial prejudice is done to the thousands of veterans who are stockholders of the Bank. Given that the legislature intended the SRC to apply only to publicly traded companies, the Court should exempt the Bank from complying with the reportorial requirements.

    On this point, the Bank is apparently referring to the obligation set forth in Subsections 17.5 and 17.6 of the SRC, which provide:

    Section 17.5. Every issuer which has a class of equity securities satisfying any of the requirements in Subsection 17.2 shall furnish to each holder of such equity security an annual report in such form and containing such information as the Commission shall prescribe.

    Section 17.6. Within such period as the Commission may prescribe preceding the annual meeting of the holders of any equity security of a class entitled to vote at such meeting, the issuer shall transmit to such holders an annual report in conformity with Subsection 17.5.  (emphases supplied)

    In making this argument, the Bank ignores the fact that the first and fundamental duty of the Court is to apply the law.[11] Construction and interpretation come only after a demonstration that the application of the law is impossible or inadequate unless interpretation is resorted to.[12] In this case, we see the law to be very clear and free from any doubt or ambiguity; thus, no room exists for construction or interpretation.

    Additionally, and contrary to the Bank's claim, the Bank's obligation to provide its stockholders with copies of its annual report is actually for the benefit of the veterans-stockholders, as it gives these stockholders access to information on the Bank's financial status and operations, resulting in greater transparency on the part of the Bank. While compliance with this requirement will undoubtedly cost the Bank money, the benefit provided to the shareholders clearly outweighs the expense. For many stockholders, these annual reports are the only means of keeping in touch with the state of health of their investments; to them, these are invaluable and continuing links with the Bank that immeasurably contribute to the transparency in public companies that the law envisions.

    WHEREFORE, premises considered, petitioner Philippine Veterans Bank's motion for reconsideration is hereby DENIED with finality.

    SO ORDERED.

    Carpio, (Chairperson), Leonardo-De Castro,* Perez, and Sereno, JJ., concur.

    Endnotes:


    *  Designated as Acting Member of the Second Division per Special Order No. 1006 dated June 10, 2011.

    [1] Rollo, pp. 172-183.

    [2] Id. at 32.

    [3] Ibid.

    [4] Id. at 33.

    [5] Id. at 40-47.

    [6] Penned by Associate Justice Magdangal M. de Leon, and concurred in by Associate Justices Rebecca de Guia-Salvador and Ricardo R. Rosario; id. at  31-37.

    [7] Id. at 38-39.

    [8] Id. at 3-26.

    [9] Id. at 167.

    [10] Id. at 36.

    [11] People v. Mapa, G.R. No. L-22301, August 30, 1967, 20 SCRA 11.

    [12] Lizarraga Hermanos v. Yap Tico, 24 Phil. 504 (1913).

    [G.R. No. 191995 : August 03, 2011]   PHILIPPINE VETERANS BANK, PETITIONER, VS. JUSTINA CALLANGAN, IN HER CAPACITY AS DIRECTOR OF THE CORPORATION FINANCE DEPARTMENT OF THE SECURITIES AND EXCHANGE COMMISSION AND/OR THE SECURITIES AND EXCHANGE COMMISSION, RESPONDENT.


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