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[G.R. Nos. 113032-33.March 13, 2002]

WESTERN INSTITUTE OF TECH., et al. vs. RICARDO SALAS, et al.

FIRST DIVISION

Gentlemen:

Quoted hereunder, for your information, is a resolution of this Court dated 13 MAR 2002.

G.R. Nos. 113032-33 ( Western Institute of Technology, et al. vs. Ricardo Salas, et al.)

This resolves the motion for reconsideration filed by petitioners of our Decision promulgated on August 21, 1997.

Respondents were charged with estafa and falsification of public document before the Regional Trial Court, Branch 33, Iloilo City. The trial court acquitted the respondents not on reasonable doubt but rather based on the findings that they did not commit the crime charged. Petitioners filed a motion for reconsideration seeking an award of civil damages. The trial court denied the motion for reconsideration, saying that there is no civil liability because the factual basis from which the same might arise did not exist. Petitioner, thus, filed this petition for review with this Court.

In the assailed Decision, we affirmed the decision of the trial court.

Petitioners filed this motion for reconsideration. They argue that the respondents' resolution as members of the board of directors of petitioner corporation which authorized the disbursement of funds for their compensation as officers was illegal. Citing the case of Barreto v. La Previsora Filipina (57 Phil. 649 [1932]), petitioner contends that directors of corporations are not entitled to compensation since they are presumed to perform their services gratuitously.

The contention is untenable.

Respondents in this case were directors and officers of the corporation. There is no doubt that corporate officers who are at the same time directors or trustees of the corporation are entitled to additional compensation other than reasonable per diems (SEC Opinion dated August 19, 1992).

We need not elaborate on the other issues raised for they have bees exhaustively discussed in our Decision.

ACCORDINGLY, the motion for reconsideration is DENIED WITH FINALITY. No further pleadings shall be entertained.

Very truly yours,

(Sgd.) VIRGINIA ANCHETA-SORIANO

Clerk of Court

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