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SECOND DIVISION

G.R. No. L-68126 May 13, 1985

MACTAN RURAL BANK, INC., Petitioner, vs. HON. VICENTE LEOGARDO, JR., DEPUTY MINISTER OF LABOR AND EMPLOYMENT, THE REGIONAL DIRECTOR AND THE CHIEF OF THE EXECUTION ARM, MINISTRY OF LABOR AND EMPLOYMENT, REGIONAL OFFICE NO. 7, CEBU CITY, LINA MANGUBAT, VIRGINIA REVILLES and ROSALINA PEÑASCOZA, Respondents.

R E S O L U T I O N

ESCOLIN, J:

The parties to this case, assisted by their respective at; attorneys, submitted the following compromise agreement for approval by the Court:

1. The parties agree that reinstatement of respondent employees is not conducive to industrial peace: Respondents Virginia Revilles and Rosanna Penascoza being already gainfully employed, while respondent Lina Mangubat is likewise gainfully employed abroad; Respondent employees' previous positions are already occupied by other persons.chanrobles virtual law library

2. Respondent employees hereby acknowledge receipt of full backwages, cost of living allowances, 13th month pay and any and all monetary benefits due them from petitioner pursuant to the 13 November 1980 decision of respondent Regional Director, MOLE Regional Office No. VI 1, Cebu City.chanrobles virtual law library

3. Respondent employees likewise hereby acknowledge receipt of separation benefits from petitioner which they are accepting in lieu of reinstatement, the latter being no longer feasible and not conducive to industrial peace.chanrobles virtual law library

4. In consideration of the above benefits, respondent employees are hereby waiving any and all claims against petitioner, and furthermore release and discharge the petitioner, its principal officers, agents and employees, from any and all liabilities, whether present, future or contingent, arising from, or in connection with, their prior employment with the petitioner.chanrobles virtual law library

5. Petitioner likewise does hereby forever release and discharge respondent employees from any and an liabilities arising from, or in connection with, their prior employment with the petitioner.chanrobles virtual law library

6. The parties hereto agree to submit the foregoing compromise agreement for approval by the Honorable Tribunal

Finding the foregoing agreement not contrary to law, morals or public policy, the same is hereby approved and judgment rendered in accordance therewith.chanrobles virtual law library

SO ORDERED.