Conpharm Industries, Inc., et al. vs. Alberto A. Santillana

 [SEC CASE NO. 3210. September 7, 1987.]CONPHARM INDUSTRIES, INC., ET AL., petitioners, vs. ALBERTO A. SANTILLANA, respondent.O R D E RSubmitted for resolution is the petitioners' prayer for the issuance of a writ of injunction as well as the respondent's opposition for the denial of the injunctive relief being prayed for.Petitioners alleged that a special meeting of the Board of Directors of CONPHARM Industries, Inc. was held on August 7, 1987 during which meeting the board, by a vote of 3 to 1, allegedly removed respondent Alberto A. Santillana as President and General Manager of the said corporation. In place of respondent, the board voted to elect petitioner Ney S. Chua as President and General Manager. However, respondent, despite his removal as such officer has re-assumed his position and is at present continuously exercising the duties and functions of the President and General Manager of the petitioner corporation. And unless restrained, respondent's continued usurpation of the duties and function of the aforesaid offices would cause grave and irreparable damage and injury not only to the...