Ellice Agro-Industrial Corp., et al. vs. Alicia E. Gala, et al.

[SEC-SICD * CASE NO. 3747. November 3, 1998.]

ELLICE AGRO-INDUSTRIAL CORP.,MARGO MANAGEMENT AND DEVELOPMENT CORP.,PAUL E. GALA, RITA G. BENSON, ADNAN V. ALONTO AND ELIAS N. CRESENCIO, petitioners,vs.ALICIA E. GALA, OFELIA E. GALA AND GUIA G. DOMINGO, respondents.

[SEC-SICD * CASE NO. 4027. November 3, 1998.]

ALICIA E. GALA, OFELIA E. GALA, GUIA G. DOMINGO AND RITA G. BENSON, petitioners,vs. PAUL E. GALA, MOISES S. MANIEGO, RODOLFO B. REGINO, RENATO S. GONZALES, VICENTE C. NOLAN NESTOR N. BATICULON, ADNAN V. ALONTO, ELIAS N. CRESENCIO, AND VITALIANO N. AGUIRRE respondents.

D E C I S I O N

These consolidated cases involved; two petitions which are in the. nature of a suit (SEC Case No. 3747, and a counter suit (SEC Case No. 4027).

In the first (No. 3747) the individual petitioners Raul E. Gala, Rita G. Benson, Adnan V. Alonto and Elias N. Cresencio claim to be the legitimate directors and officers and controlling stockholders of corporate petitioners Ellice Agro-Industrial Corporation (Ellice) and Margo Management and Development Corporation (Margo).They are demanding that the respondents account for corporate funds and properties unlawfully...

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