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FIRST DIVISION

G.R. No. L-40904 March 16, 1978

WORLD WIDE TRAVEL SERVICE, INC, and LUISA ECHAUS, Petitioners, vs. COURT OF APPEALS, HON. NICANOR S. SISON (substituted by HON. GUARDSON LOOD), Presiding Judge of Branch XXII, Court of First Instance of Rizal, AUGUSTO DE LEON, ERLINDA CAPARAS, MILA G. BELLO, ENRIQUE RAZON and ROBERT RAY HOLLINGSWORTH, Respondents.

G.R. No. L-41247 March 16, 1978

LUISA ECHAUS, Petitioner, vs. HON. PEDRO C. NAVARRO, Presiding Judge of Branch II, Court of First Instance of Rizal, AUGUSTO DE LEON, ENRIQUE V. RAZON, ROBERT RAY HOLLINGSWORTH, OLIMPIO BERMUDEZ, ANTONIO ABAD SANTOS, ERLINDA CAPARAS and MILA G. BELLO. Respondents.

TEEHANKEE, J.:

The parties assisted by their respective counsels have filed the following under date of February 21, 1978:

SUBMISSION OF COMPROMISE AGREEMENT

COME NOW the parties and the Administrator in the above-captioned case, assisted by their respective counsel, and to this Honorable Court most respectfully submit for approval the hereto attached Compromise Agreement, duly signed on January 26, 1978 by Mr. Antonio Abad Santos, Misses Erlinda Caparas, Mila G. Bello and Luisa Echaus, and World Wide Travel Service, Inc. and entered in the notarial registry of Manila a Notary Public Francisco G. Agustin as Doc. No. 175, Page No. 19, Book No. 115, Series of 1978, and on February 14, 1978 by Messrs. Augusto de Leon, Enrique Razon, Robert Ray Hollingsworth and Olympio G. Bermudez and entered in the notarial registry of Manila Notary Public Gilberto B. Pasimanero as Doc. No. 444, Page No. 90, Book No. I, series of 1978.chanroblesvirtualawlibrary chanrobles virtual law library

The said Compromise Agreement is intended by the parties to supplant the Project of Partition approved by the court a qou on May 13, 1975, particularly with respect to the shares of stocks of Honesta d. Kelly in World Wide Travel Service, Inc. which Mr. Augusto de leon is ceding to said World Wide Travel Service, Inc., to Robert Ray Hollingsworth, and the release of the balance of the consideration in the sum of P300,000.00, more or less, subject to minor modifications.chanroblesvirtualawlibrarychanrobles virtual law library

The parties, thru their respective counsel, and the administrator, hereby tender their most profound apologies to the Honorable court for the delay in arriving at this compromise agreement, said delay being attributable to the number of parties concerned and the fact that most of them were out of the Philippines during the negotiations.chanroblesvirtualawlibrarychanrobles virtual law library

WHEREFORE, it is most respectfully prayed of this Honorable Court that thereto attached Compromise Agreement be approved, that a decision be promulgated along the lines of said Compromise Agreement and the same be remanded, together with the records of the above-captioned cases, to the court a qou for implementation.chanroblesvirtualawlibrarychanrobles virtual law library

Manila Philippines, February 21, 1978.chanroblesvirtualawlibrarychanrobles virtual law library

PICAZO, SANTAYANA, REYES, TAYAO & ALFONSO Counsel for the Petitioners 3rd Floor, Zaragoza Bldg. Gamboa cor. Trasierra Streets Legaspi Village, Makati, Metro Manilachanrobles virtual law library

By:chanrobles virtual law library

(Sgd.) SALVADOR P. DE GUZMAN, JR. PTR No. 060922F, Manila 2-16-78chanrobles virtual law library

LUNA, PURUGANAN, CRUZ, SISON & ONGKIKO Counsel for Respondents De Leon, 16th Floor, Pacific Bank, Makati Blgd., 6776 Ayala Ave. Makati, Metro Manilachanrobles virtual law library

By:chanrobles virtual law library

(Sgd.) FERNANDO F. MANAS, JR. PTR. No. 277659, Manila, 1-3-77chanrobles virtual law library

(Sgd.) ANTONIO C. AMOR Counsel for Respondent Hollingsworth LBC Bldg., 202 13th Street Port Area, Manila PTR No. 100302E, Manila, 1-5-77chanrobles virtual law library

(Sgd.) OLYMPIO G. BERMUDEZ Administrator Rms. 202-203, Capitan Pepe Bldg. Cm Recto cor. Rizal Avenue Manila TAN 1083-621-1

The Compromise Agreement thus submitted by the parties with its Annexes is hereinbelow incorporated * and provides as follows:

COMPROMISE AGREEMENT

KNOW ALL MEN BY THESE PRESENTS:

This instrument, executed by and among the following:chanrobles virtual law library

AUGUSTO DE LEON, of legal age, Filipino, married and with postal address at Doña Narcisa Building, Paseo de Roxas, Makati, Metro Manila, hereinafter referred to as the FIRST PARTY;chanrobles virtual law library

WORLD WIDE TRAVEL SERVICE, INC., a domestic corporation duly organized and existing under and by virtue of the laws of the Republic of the Philippines, with principal offices at 1664 M. Adriatico Street, Ermita, Manila, hereinafter referred to as the SECOND PARTY, represented in this instance by Mr. ANTONIO ABAD SANTOS, duly authorized and empowered for the purpose;chanrobles virtual law library

LUISA ECHAUS, of legal age, Filipino and with postal address at 1664 M. Adriatico Street, Ermita, Manila, hereinafter referred to as the THIRD PARTY, represented in this instance by her attorney-in-fact, Atty. SALVADOR P. DE GUZMAN, JR., whose Special Power of Attorney is hereto attached as Annex "A";chanrobles virtual law library

ANTONIO ABAD SANTOS, of legal age, Filipino, married and with postal address at Don Bonifacio Subdivison, Angeles City,chanrobles virtual law library

ERLINDA CAPARAS, of legal age, Filipino and with postal address at 7447 Marcelo Village, Parañaque, Metro Manila, andchanrobles virtual law library

MILA G. BELLO, of legal age, Filipino and with postal address at 2068 Kusang Loob Street, Sta. Cruz, Manila, represented in this instance by her attorney-in-fact, ERLINDA CAPARAS, whose special Power of Attorney is hereto attached as Annex "B",chanrobles virtual law library

all of whom are hereinafter collectively referred to as the FOURTH PARTY;chanrobles virtual law library

ENRIQUE RAZON, of legal age, Filipino, married and with postal address at E. Razon, Inc., M. de Francisco street, Port Area, Manila, hereinafter referred to as the SIXTH PARTY;chanrobles virtual law library

ROBERT RAY HOLLINGSWORTH, of legal age, American and with postal address at c/o Atty. Antonio Amor of 202 13th street, Port Area, manila, hereinafter referred to as the SIXTH PARTY;chanrobles virtual law library

OLYMPIO G. BERMUDEZ, of legal age, Filipino, married and with postal address at Capitan Pepe Bldg., Rizal Avenue, Manila hereinafter referred to as the ADMINISTRATOR.

WHEREAS, the late Honesta D. Kelly died on September 16, 1968, leaving as part of her estate the following;chanrobles virtual law library

1. A house and lot at No. 1 Jacaranda St., North Forbes, Makati, Metro Manila, covered by TCT No. 92112;chanrobles virtual law library

2. A residential lot in Tagaytay City covered by TCT No. 92834;chanrobles virtual law library

3. Twenty Thousand Shares of World Wide Travel Service, Inc., valued at P200,00.00.chanroblesvirtualawlibrarychanrobles virtual law library

WHEREAS, on October 8, 1958; Sp. Proc. No. 5610 entitled "In the Testate Estate of the Late Honesta D. Kelly (Honesto D. Marcelo), Luisa Echaus, Petitioner" was filed by the THIRD PARTY with the Court of First Instance of Rizal at Pasig, Metro manila, in her capacity as Vice-President and most senior officer of the herein Second Party;chanrobles virtual law library

WHEREAS, in the course of the said proceedings, several persons claiming to be heirs of the late Honesta D. Kelly intervened and/or entered their appearance, the said parties being, among others, ROBERT RAY HOLLINGSWORTH, ANTONIO ABAD SANTOS, ERLINDA CAPARAS, MILA G. BELLO, PRIMITIVO MARCELO (as alleged surviving husband of the deceased), DOMINGO and RAYMUNDO DATUIN (as alleged sister of the deceased);chanrobles virtual law library

WHEREAS, the herein FIRST PARTY acquired the hereditary rights of the said Primitivo Marcelo, Domingo and Raymundo Datuin, and Margarita Datuin de Vera, which acquisition was duly approved by the Court in an Order dated June 20, 1974, thereby making the FIRST PARTY an intervenor in the proceedings;chanrobles virtual law library

WHEREAS, an October 16, 1974, the Rizal CFI authorized the sale of the house and lot of the state located at Jacaranda Street, North Forbes, and on January 21, 1975, a Deed of Sale over the said house and lot, in favor of Enrique V. Razon, for the sum of P 700,000.00 was executed by the co-administrator, Atty. Olympio G. Bermudez, which was approved by the Rizal CFI on January 21, 1975 and was duly recorded with the Office of the Register of Deeds on January 22, 1975, culminating in the issuance by the Register of deeds of Transfer Certificate of Title No. 471773 over the said house and lot in the name of Enrique V. Razon;chanrobles virtual law library

WHEREAS, the said amount of SEVEN HUNDRED THOUSAND PESOS (P700,000.00), Philippine Currency, was utilized by the co-administrator in paying off certain obligations of the estate, leaving a balance in the sum of THREE HUNDRED FOUR THOUSAND THREE HUNDRED THIRTY PESOS (P304,330.00) which is presently on deposit with the Philippine National Bank under Savings Account No. 240301;chanrobles virtual law library

WHEREAS, the SECOND PARTY and the THIRD PARTY elevated to the Court of Appeals under an original Petition certiorari the said sale of the house and lot, docketed as CA-G.R. No. SP-03922, which, because of an adverse decision promulgated on April 29, 1975, was brought by the said parties to the Supreme Court under a Petition for Review on Certiorari, docketed as G.R. No. L-40904, where it was given due course and is presently under consideration by the Supreme Court.chanroblesvirtualawlibrarychanrobles virtual law library

WHEREAS, on May 13, 1975, the Rizal CFI approved a Project of Partition distributing the estate of Honesta D. Kelly;chanrobles virtual law library

WHEREAS, the THIRD PARTY, on October 16, 1975, appealed to the Supreme Court under Petition for Review on certiorari the order approving the Partition, docketed as G.R. No. L-41247 which likewise was given due course and is pending consideration by the said court;chanrobles virtual law library

WHEREAS, the herein parties, after several negotiations, have agreed to settle their respective claims and differences under and by virtue of this agreement;chanrobles virtual law library

NOW, THEREFORE, for and in consideration of the premises and of the mutual covenants and stipulations hereinafter stated, the parties have agreed as follows:chanrobles virtual law library

1. The sum of THREE HUNDRED THOUSAND PESOS (P300,000.00) now deposited with the Philippine National Bank under Savings Account No. 240301 is hereby given, and delivered directly to the SECOND PARTY in the name and for the account of the said THIRD PARTY and of ANTONIO ABAD SANTOS and ERLINDA CAPARAS in equal shares, and the other parties, particularly the FIRST PARTY, hereby waives in favor of the THIRD and FOURTH PARTIES any and all rights whatsoever that they may have in and over the said amount provided, however, the said amount of P300,000.00 shall only be released to the SECOND PARTY upon:

a) Approval by the Supreme court of this Compromise Agreement;chanrobles virtual law library

b) Submission by THIRD and FOURTH PARTIES to the Testate Court and to the FIRST PARTY of the Cancellation and Release of Mortgage obligation of the Estate with the IATA annotated at the back of TCT No. 471773-Rizal, all at the expense and for the account of SECOND, THIRD and FOURTH PARTIES;chanrobles virtual law library

c) Cancellation of the notice lis pendens now annotated at the back of said TCT No. 471773 of the Registry of Deeds for the Province of Rizal; andchanrobles virtual law library

d) Ejectment of Mrs. Pacita delos Reyes-Philipps from the house at no. 1 Jacaranda St., Forbes Park, Makati, metro Manila, sold to the FIFTH PARTY and payment of her rentals as stipulated hereinafter;

2. All the parties in this compromise Agreement hereby agree to the adjudication and release to the FIRST PARTY of the sum of P265,000.00 which is now in the possession of the FIRST PARTY, and in turn the conditions set forth in paragraph 1 (a) to (d), to endorse in favor of the SECOND PARTY the shares of stocks owned by Honesta D. Kelly in other corporations as enumerated in her last will and testament and the shares of stocks of Honesta Kelly in the said SECOND PARTY, consisting of TWENTY THOUSAND (20,000) Shares wit a par value of P10.00 and valued at P200,000.00, and the respective Corporate Secretary of said corporations are hereby authorized and empowered to cause the cancellation of the said shares of stocks, and further waives in favor of said SECOND PARTY any and all rights whatsoever he may have in and over the said shares of stocks, and the said SECOND PARTY, hereby accepts the said shares of stocks, the same to be treated henceforth as treasury stocks, to be disposed of as its Board of Directors may deem fit and proper within the provisions of the law;chanrobles virtual law library

3. The award by the Rizal CFI in Sp. Proc. No. 5610 of the residential lot in Tagaytay City covered by TCT No. 92834 in favor of the SECOND PARTY is hereby confirmed and ratified by the herein parties;chanrobles virtual law library

4. The furniture of the deceased adjudicated to Robert Ray Hollingsworth shall be returned to ROBERT RAY HOLLINGSWORTH as directed of the Administratrix Luisa Echaus by Order dated May 13, 1975 in Special Proc. No. 5610. the parties agree that "furniture" as used in this Compromise Agreement includes all personal effects of the Late Honesta D. Kelly found in the house at 1 Jacaranda such as but not limited to furnishings, ornaments, electrical appliances, decorations, glasswares, chinawares, TV, radio-phono, chandeliers, and the like. The other parties hereby waive any and all rights whatsoever that they may have in and over the said "furniture".chanroblesvirtualawlibrarychanrobles virtual law library

5. The loss of a few items of the personal effects belonging to the Honesto d. Kelly as determined during the ocular inspection of the premises conducted by the respective lawyers of the parties hereto in the presence of Mrs. Pacita delos Reyes-Philips last October 1, 1977, as well as during the second ocular inspection of the premises last October 8, 1977, during which ocular inspection, they viewed all the pieces of furniture and personal effects inside the premises and compared the same with the inventory submitted to the Probate Court, are hereby condoned, allowed and/or accepted by all the parties, it being understood that, the said inventories were hurriedly prepared at the time.chanroblesvirtualawlibrarychanrobles virtual law library

6. Upon the remanding of the records to the Rizal CFI, after the Compromise Agreement has been approved by the Supreme Court, the parties hereto shall effect the issuance by the said Court of First Instance of Rizal under Special Proc, no. 5610 of the appropriate order that shall enable the parties to implement this agreement and the Project of partition of May 7, 1975 so far as not inconsistent with the terms of this Agreement, particularly the provisions thereof relating to ROBERT RAY HOLLINGSWORTH.chanroblesvirtualawlibrarychanrobles virtual law library

7. Immediately upon the approval by the Supreme Court of this Compromise Agreement the SECOND, THIRD AND FOURTH PARTIES obligate themselves to cause the immediate ejectment of the present tenants Mrs. Pacita delos Reyes-Philips, of the house and lot Jacaranda Street, Forbes Park, Makati, Metro Manila, to vacate the said premises and to deliver the physical possession of the said house and lot to the FIFTH PARTY, free of any lien and incumbrance whatsoever, and of any third-party occupant or tenant thereof, as well as deliver to the FIFTH PARTY, the payments of the monthly rentals of the said property in the sum of P1,500.00 a month corresponding to the period from July 1975 up to 31 December 1976 as full payment of the monthly rentals thereof, the same to be taken from the P300,000.00 awarded to the THIRD AND FOURTH PARTIES, upon receipt of which amount the FIFTH PARTY shall cause the dismissal of the ejectment suit he filed against Mrs. Pacita delos Reyes-Philips in the Municipal Court of Makati, Metro Manila. All the parties hereto, particularly the SECOND and THIRD, covenant and confirm the sale of the aforesaid house and lot to the FIFTH PARTY and further waive in favor of the said FIFTH PARTY any and all rights and interests whatsoever they may have in and over the said property.chanroblesvirtualawlibrarychanrobles virtual law library

8. It is the essence of this Agreement that the parties hereto are mutually settling their respective claims and differences in the estate of the late Honesta D. Kelly and should the Supreme Court refuse to approve this Compromise Agreement, then this Agreement shall be considered as of no further force and effect; otherwise, this Agreement shall be in full force and effect, to be implemented by the parties hereto, and whoever shall violate the provisions hereof shall be liable to the innocent parties for damages and attorney's fees and cost of suit.chanroblesvirtualawlibrarychanrobles virtual law library

9. All the parties hereby agree that whatever interest earned by the estate in the savings deposits with the Philippine National Bank under Account No. 240301, together with the sum of P4, 330.00 portion thereof, shall be paid to the co-administrator, Mr. Olympio G. Bermudez, as his co-administrator's fees in the proceedings.chanroblesvirtualawlibrarychanrobles virtual law library

IN WITNESS WHEREOF, the parties hereto, duly assisted by their respective counsel, have hereunto set their hands on January 26, 1978 in the City of Manila, Philippines, and on January - , 1978 at Makati, Metro Manila, Philippines, respectively.chanroblesvirtualawlibrarychanrobles virtual law library

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AUGUSTO DE LEON WORLD WIDE TRAVEL First Party SERVICE, INC.chanroblesvirtualawlibrarychanrobles virtual law library

TAN D4520-G1924-A7 Second Party TAN W5430-H1468-A-6chanrobles virtual law library

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By:chanrobles virtual law library

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LUISA ECHAUS ANTONIO ABAD SANTOS Third Party Acting President TAN 1197-538-0 TAN 1000-620-3chanrobles virtual law library

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By:chanrobles virtual law library

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SALVADOR P. DE GUZMAN, JR. Attorney-in-fact TAN D22577-M0627-A-1chanrobles virtual law library

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ANTONIO ABAD SANTOS Fourth Party TAN 1000-620-3chanrobles virtual law library

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ERLINDA CAPARAS MILA G. BELLO Fourth Party Fourth Party TAN 3015-732-5 TAN 1080-338-5 chanrobles virtual law library

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By:chanrobles virtual law library

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ENRIQUE V. RAZON ERLINDA CAPARAS Fifth Party Attorney-in-fact TAN 1707-127-5 TAN 3015-732-5chanrobles virtual law library

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ROBERT RAY HOLLINGSWORTHchanrobles virtual law library

Sixth Partychanrobles virtual law library

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WITNESSES:chanrobles virtual law library

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(ELIGIBLE) (ELIGIBLE) - - - - - - - - - - - - - - - chanrobles virtual law library

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ASSISTED BY:chanrobles virtual law library

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PICAZO, SANTAYANA, REYES, LUNA, PURUGANAN, CRUZ TAYAO & ALFONSO SISON & ONGKIKO Attorney for the Second, Attorney for the First and Third Parties and Fifth Parties & Admr. 3rd Floor, Zaragoza Bldg. 18th Floor, Pacific Bank Gamboa cor. Trasierra Sts. Makati Bldg., 6776 Ayala Legaspi Village, Makati Ave., Makati, Metro Mla. chanrobles virtual law library

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By: By:chanrobles virtual law library

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SALVADOR P. DE GUZMAN, JR. FERNANDO F. MANAS, JR. PTR. No. 009677E, Mla. PTR No. 7776659, Manila January 19, 1977 January 3, 1977 chanrobles virtual law library

ANTONIO C. AMOR Attorney for the Sixth Party chanrobles virtual law library

202 13Th Street, Port Area, Mla. PTR No. 100302E, Manila January 5, 1977 chanrobles virtual law library

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ACNOWLEDGMENTchanrobles virtual law library

REPUBLIC OF THE PHILIPPINES) S.S.chanroblesvirtualawlibrarychanrobles virtual law library

CITY OF MANILAchanrobles virtual law library

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BEFORE ME, a Notary Public for and in the City of Manila, Philippines, this __ day of January, 1978, personally appeared:

ANTONIO ABAD SANTOS with Residence Tax Certificate No. A-76847 issued at Manila on February 3, 1977, in his personal capacity and as Acting President of World Wide Travel Service, Inc. with Corporate Residence Tax Certificate Nos. C-377 and C-1-33856 issued at Manila on February 1, 1977 and March 15, 1977, respectively:chanrobles virtual law library

ERLINDA CAPARAS with Residence Tax Certificate No. A-76937 issued at Manila on January 7, 1977, in her personal capacity and as attorney-in-fact of MILA G. BELLO;chanrobles virtual law library

SALVADOR P. DE GUZMAN, JR. with Residence Tax Certificate No. A438181 issued in Manila on January 6, 1977, as attorney-in-fact of LUISA ECHAUS; known to me and to me known to be the same persons who executed the foregoing instrument consisting of nine (9) pages including this page on which the last portion of the ACKNOWLEDGMENT, insofar as the above-named persons are concerned, and the first portion of the second ACKNOWLEDGMENT insofar as the rest of the parties hereto are concerned, are written, and also including page 9 on which the last portion of said second ACKNOWLEDGMENT is written, and who acknowledged to me that the same is their own free and voluntary act and deed, and of the principals they represent.chanroblesvirtualawlibrarychanrobles virtual law library

I certify that all the pages hereof, except page 9, have been duly signed by the above-named parties hereto and their instrumental witnesses, that the rest of the parties hereto not mentioned in this ACKNOWLEDGMENT shall sign all the pages hereof under, and covered by, the second ACKNOWLEDGMENT contained in this page and on page 9 hereof, and that this instrument relates to a compromise agreement over the respective claims of the parties in the estate of the late Honesta D. Kelly-Marcelo now subject of G.R. Nos. L-40904 and L-41247 of the Supreme Court.

WITNESS MY HAND AND SEAL on the date and the place first above written.chanroblesvirtualawlibrarychanrobles virtual law library

FRANCISCO O. AGUSTIN Notary Public Until Dec. 31, 1978 PTR NO. 07048177 ISSUED AT MANILA ON JANUARY 13, 1978 TAN- - - - Doc. No. 175; Page No. 19; Book No. 115; Series of 1973.chanroblesvirtualawlibrarychanrobles virtual law library

ACNOWLEDGMENT

REPUBLIC OF THE PHILIPPINES) S.S. MAKATI, METRO MANILAchanrobles virtual law library

BEFORE ME, a Notary Public for and in the City of Manila, Philippines, this 14th day of February, 1978, personally appeared:

AUGUSTO DE LEON with Residence Tax Certificate No. A-489696 issued at M a n i l a on January 7, 1977;

ENRIQUE RAZON with Residence Tax Certificate No. A58869 issued at Manila on January 3, 1977;chanrobles virtual law library

ROBERT RAY HOLLINGSWORTH with Residence Tax Certificate No. A- - - - - issued at - - - - on - - - - - - - -;

OLYMPIO G. BERMUDEZ with Residence Tax Certificate No. A-642919 issued at Manila on January 12, 1977:chanrobles virtual law library

all known to me and to me known to be the same persons who executed the foregoing instrument consisting of nine (9) pages including this page of which the last portion of this ACKNOWLEDGMENT, insofar as the above-named persons are concerned, is written, and who acknowledged to me that the same is their own free and voluntary act and deed.chanroblesvirtualawlibrarychanrobles virtual law library

I certify that all the pages hereof have been duly signed by the above-named parties hereto and their instrumental witnesses, that pages 1 to 8 hereof were already signed by the parties hereto and their instrumental witnesses covered by the first ACKNOWLEDGMENT under pages 7 and 8 hereof when this ACKNOWLEDGMENT is being executed, and that this instrument relates to a compromise agreement over the respective claims of the parties in the estate of the late Honesta D. Kelly/Marcelo now subject of G.R. Nos. L-40904 and L-41247 of the Supreme Court.chanroblesvirtualawlibrarychanrobles virtual law library

WITNESS MY HAND AND SEAL on the date and at the place first above written.chanroblesvirtualawlibrary chanrobles virtual law library

GILBERTO B. PASIMANERO Notary Public Until December 31, 1979 PTR No. 027438 ISSUED AT MANILA ON 1-27-78 TAN 3115-755-2chanrobles virtual law library

Doc. No. 44; Page No. 90; Book No. 6; Series of 1978.chanroblesvirtualawlibrarychanrobles virtual law library

ANNEX "A"chanrobles virtual law library

SPECIAL POWER OF ATTORNEY

KNOW ALL MEN BY THESE PRESENTS:

That I, LUISA ECHAUS, of legal age, Filipino, and with postal address at Apt. 54, Elena Apartments, L Guerrero Street, Ermita, Manila, do hereby appoint, name, and constitute SALVADOR P. DE GUZMAN, JR., of legal age, Filipino, married to Esperanza V. Lorenzo, and a resident of 2697 Legarda Street, Sampaloc, Manila, to be my true and lawful attorney-in-fact, for me and in my name, place and stead, and for my own use and benefit, to do and perform the following acts and things, namely:

To enter into any compromise, settlement, agreement, partition, and/or division of any of the matters subject of:chanrobles virtual law library

1. Sp. Proc. No. 5510 of the Court of First Instance of Rizal entitled "In the Testate Estate of the late Honesta D. Kelly/Marcelo, Luisa Echaus, Petitioner"'chanrobles virtual law library

2. G.R. No. L-40904 of the Supreme Court entitled "World Wide Travel Service, Inc. and Luisa Echaus, Petitioners, versus Court of Appeals, etc., et al., Respondents"; chanrobles virtual law library

3. G.R. No. L-41247 of the Supreme court entitled "Luisa Echaus, Petitioner, versus Hon. Pedro C. Navarro, etc., et al., Respondents"; andchanrobles virtual law library

4. Civil case No. 239563 of the City Court of manila entitled " Lopez Enterprises Co., Inc., Plaintiff, versus Luisa Echaus, Defendant".

as would effectively settle and/or otherwise terminate the above-stated proceedings/cases, under such terms and conditions that my said attorney-in-fact may deem fitting, proper and/or beneficial.

HEREBY GIVING AND GRANTING unto my said attorney-in-fact full power and authority to do and perform and authority to do and perform every act and thing whatsoever requisite and necessary to be done in and about the premises, as fully to all intents and purposes as I might or could do if personally present, hereby RATIFYING and CONFIRMING all that my said attorney-in-fact, his delegates or substitutes, shall lawfully do or cause to be done by virtue of these presents.chanroblesvirtualawlibrarychanrobles virtual law library

IN WITNESS WHEREOF, I have hereunto set my had this 9 day of November, 1977 ______________________________________________________________ __________________________________________________________________ chanrobles virtual law library

(Sgd.) LUIS ECHAUS TAN - - - -chanrobles virtual law library

SIGNED IN THE PRESENCE OF: Mary Luisa L. Aldeguer - - - - - - - - - - - chanrobles virtual law library

STATE OF CALIFORNIA ) S.S. COUNTY OF SAN FRANCISCO)chanrobles virtual law library

On this 9th day of November, 1977, before me, Jose J. Baron, a notary Public, State of California, duly commissioned and sworn, personally appeared Luisa Echaus, known to me to be the person described in and those name she subscribed to the within instrument, and acknowledged to me that she executed the same.chanroblesvirtualawlibrarychanrobles virtual law library

IN WITNESS WHEREOF, I have hereunto set my hand and affixed my official seal in the day and year in this case certificate first above written.chanroblesvirtualawlibrarychanrobles virtual law library

Jose J. Baron Notary Public My Commission expires April 11, 1978chanrobles virtual law library

CONSULATE GENERAL OF THE ) REPUBLIC OF THE PHILIPPINES, ) CITY AND COUNTY OF SAN FRANCISCO ) STATE OF CALIFORNIA, U.S.A. )

WILLY C. GAA, VICE CONSUL, of the Republic of the Philippines at San Francisco, California, U.S.A. duly commissioned and qualified, do hereby certify that ... JOSE J. BARON ... before whom the annexed instrument has been executed, was ta the time he signed the attached certificate, a Notary Public in and for the City and County of San Francisco, state of California, U.S.A., whose commission expires 11 April 1978, and with full faith and credit are and ought to be given to his official act.chanroblesvirtualawlibrarychanrobles virtual law library

That the contents of the annexed document, this Consulate General Assumes no responsibility.chanroblesvirtualawlibrarychanrobles virtual law library

IN WITNESS WHEREOF, I have hereunto set my hand and affixed the seal of the Philippine consulate General of the Republic of the Philippines at San Francisco, California, U.S.A. this 9th day of November, 1977.

(s) WILLY C. GAA (t) WILLY C. GAA VICE CONSUL chanrobles virtual law library

Fees: P10.00 Series of 1950 Official Receipt No. 111 Doc. No. 46 Book No. Page No. 276 Series of 1977 A N N E X "B" chanrobles virtual law library

SPECIAL POWER OF ATTORNEY

KNOW ALL MEN BY THESE PRESENTS:chanrobles virtual law library

I, MILGAROS BELLO GUZMAN, of legal age, married and with business address at World-Wide Travel Service, Inc., Macario Adriatico, Malate, Manila, Hereby name, constitute and appoint ERLINDA M. CAPARAS, single and resident of 7447 Highland St., to be my true and lawful attorney, for me and in my name, place and stead to do and perform the following acts and things to wit:chanrobles virtual law library

1. To represent me in all negotiations and proceedings involving the settlement of the estate of Honesta Kelly and subject to the condition that my said attorney-in-fact ERLINADA M. CAPARAS, in her personal capacity and ANTONIO ABAD SANTOS agree, to decide for and bind me in any compromise and settlement that all the parties may agree to concerning the said estate;chanrobles virtual law library

2. To receive any and all monies or instruments that may be due me in settlement of the estate of Honesta Kelly and to deposit the same in may name with any banking institution that she may so choose;chanrobles virtual law library

3. To act as my proxy in any meeting of the stockholders of if personally present, upon all legal matters which may be taken before said meeting.chanroblesvirtualawlibrarychanrobles virtual law library

GIVING AND GRANTING unto the said attorney-in-fact and proxy full power and authority to do and perform every legal act and thing whatsoever requisite or necessary to be done in and about the premises as fully to all intents and purposes as I might or could lawfully do if personally present and CONFIRMING all that the said attorney-in-fact shall do or cause to be done by virtue hereof.chanroblesvirtualawlibrarychanrobles virtual law library

IN WITNESS WHEREOF, I have hereunto set my hand this 14th day, of August, 1976 in Manila, Philippines.chanroblesvirtualawlibrarychanrobles virtual law library

MILAGROS BELLO-GUZMAN Signed in the Presence of: chanrobles virtual law library

(ELIGIBLE) (ELIGIBLE) - - - - - - - - - - - - - - -chanrobles virtual law library

A C N O W L E D G M E N T

REPUBLIC OF THE PHILIPPINES ) SS. CITY OF MANILA ) chanrobles virtual law library

BEFORE ME, a Notary Public for and in manila, personally appeared:chanrobles virtual law library

NAME RES. CERT NO. MILAGROS BELLO GUZMAN A 141294 DATE PLACE OF ISSUE 1/23/76 Manilachanrobles virtual law library

known to me and to me known to be the same person who executed the foregoing instrument, and they acknowledged to me that the same is her free and voluntary act and deed.chanroblesvirtualawlibrarychanrobles virtual law library

IN WITNESS WHEREOF, I have hereunto set my hand and affixed my notarial seal this 14th day of August, 1976 at the place hereinabove written.chanroblesvirtualawlibrarychanrobles virtual law library

RAMON R. POSADAS Notary Public Until December 31, 1977 PTR# 2869633 Pasay City-Jan. 20, 1976 chanrobles virtual law library

Doc. No. 291; Page No. 58; Book No. 1; Series of 1976.

The Court finds the above Compromise Agreement to be proper and in order, whereby the parties have settled amicably their controversy in the cases at bar apparently to the mutual satisfaction of all concerned.chanroblesvirtualawlibrarychanrobles virtual law library

ACCORDINGLY, as prayed for by the parties with the assistance of their respective counsels, the Court hereby approves the compromise Agreement as submitted by the parties and incorporated in the body of this decision and remands the same with the records to the court below for implementation in accordance with the respective agreements and undertakings of the parties therein.