Masbate Consolidated Arrastre, Inc., et al. vs. Avelino J. Aguilar, et al.

 [SEC-SICD * CASE NO. 4071. March 17, 1998.]MASBATE CONSOLIDATED ARRASTRE, INC., ET AL., petitioners, vs. AVELINO J. AGUILAR, ET AL., respondents.D E C I S I O NThis is an amended petition for accounting of corporate funds, reinstatement of petitioners as directors, officers and stockholders of the Corporation and for annulment of sale or transfer of shares of stocks of the Petitioners with a prayer for the issuance of a restraining order and/or a writ of preliminary injunction. LexLibPetitioners alleged, among others, that Masbate Consolidated Arrastre, Inc. herein after referred to as MASCAI, is a corporation duly organized and registered under the laws of the Republic of the Philippines with office address at Port Area Masbate, Masbate; that petitioner corporation has continuously conducted its business as general stevedoring and Arrastre Services since 1987 up to the present with an authorized capital stock of One Million (P 1,000,000.00) Pesos divided into Ten Thousand (10,000) shares with a par value of One Hundred (P100.00) Pesos per share; that petitioners are all original incorporators/stockholders and directors of the...