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[G.R. No. 144919.July 16, 2001]

PREMIUM MARBLE RESOURCES, INC., et al. vs. CA, et al.

FIRST DIVISION

Gentlemen:

Quoted hereunder, for your information, is a resolution of this Court dated JUL 16 2001.

G.R. No. 144919(Premium Marble Resources Inc., et al. vs. Court of Appeals, et al.)

From a SEC Order dated March 3, 2000 dismissing SEC Case No. 2688 for petitioners' failure to prosecute within a reasonable length of time, petitioners went up to the Court of Appeals questioning said dismissal. In a Resolution dated June 13, 2000, the Court of Appeals dismissed the petition for certiorari filed before it for being deficient in form. Denial of the motion for reconsideration was received on August 16, 2000. On September 29, 2000, petitioners came to this Court by way of a Petition for Certiorari under Rule 65 assailing the CA resolution.

Without necessarily giving due course to the petition, we required the respondents to file their comments. Only Saturnino G. Belen, Jr., through counsel, Atty. Armel Cansino filed his comment. In compliance with our Resolution dated April 2, 2001, counsel further manifested on May 9, 2001 that he was representing only Mr. Saturnino Belen, Jr. and that he had no knowledge of the correct and new address of co-respondents, Genesis Equity and Management, Inc. and Centennial Marble, Inc.

Considering the foregoing, the Resolution of the Court dated October 23, 2000 requiring the respondents to comment is deemed served.

Acting on the petition for certiorari, the Court Resolved to DISMISS the petition after finding no grave abuse of discretion on the part of the Court of Appeals in dismissing the petition and considering further that the petition is evidently used as a substitute for the lost remedy of appeal which the Court can not countenance.

Very truly yours,

(Sgd.) VIRGINIA ANCHETA-SORIANO
Clerk of Court

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