SUPREME COURT DECISIONS

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Endnotes:


1 Penned by Associate Justice Corona Ibay-Somera, with Associate Justice Justo P. Torres, Jr. and Associate Justice Conrado M. Vasquez, Jr., concurring. (Special Thirteenth Division)

2 PROCLAIMING AND LAUNCHING A PROGRAM FOR THE EXPEDITIOUS DISPOSITION AND PRIVATIZATION OF CERTAIN GOVERNMENT CORPORATIONS AND/OR THEASSETS THEREOF AND CREATING THE COMMITTEE ON PRIVATIZATION AND THE ASSET PRIVATIZATION TRUST. (Vital legal documents in the New Peoples Government, Vol. 104, p. 1)

3 Former Central Bank Governor and former Secretary, Department of Education.

4 The MOA was executed on July 10, 1981. The primary purpose of the MOA was to restructure the outstanding balance of CCC as of August 31, 1979. Among other things, the MOAs refinancing scheme provided that:

(A) CCCs outstanding obligations in the amount of P35.0 million was converted into preferred shares in order to enable CCC to meet DBPs required 75/25 debt/equity ratio and the over all eighty percent (80%) collateral ratio.

(B) The remaining portion of the obligation in the amount of P98,851,004.04 shall be converted into a foreign currency obligation, to be drawn from whatever shall be available out of DBPs outstanding direct foreign currency borrowings, the same to be made payable to DBP in monthly installments over fifteen (15) years with interest at twelve percent (12%) per annum, the first installment to become due within the first ten (10) days of September 1979. The monthly installments due shall be the peso equivalent thereof, based on the prevailing rate of exchange on the day actual payments are made to DBP, or on the date DBP paid for the installments, whichever is higher.

5 Authorized Representative of the Commissioner.

6 Memorandum for Petitioner, Rollo, p. 176.

7 Petition, Rollo, p. 15.

8 Petition, Rollo, p. 12.

9 Decision of RTC-Branch 9, Malolos, Bulacan, October 5, 1992, Rollo, pp. 13-14.

10 Petition, Rollo, p. 15.

11 Court of Appeals decision, Rollo, p. 75.

12 Loong v. Commission on Elections, 275 SCRA 1

13 Villasis v. Court of Appeals, 60 SCRA 120

14 Memorandum of Petitioner; Rollo, p. 190.

15 Salonga v. NLRC, 254 SCRA 111.

16 Midas Touch Food Corporation v. NLRC, 259 SCRA 652.

17 Garcia v. NLRC, 264 SCRA 261.

18 Valenzuela v. Court of Appeals, 253 SCRA 303.

19 Paragraph 2(c), MOA; Court of Appeals Decision; Rollo, p. 67.

20 252 SCRA 353.

21 Section 31, Proc. No. 50.

22 Ibid.

23 People v. Acol, 232 SCRA 406.




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