Teresa De La Cruz Teng Soat vs. ACME Abrasive Manufacturing Corporation, et al.

[SEC-SICD * CASE NO. 09-94-4885. June 15, 1999.]

TERESA DE LA CRUZ TENG SOAT, complainant,vs.ACME ABRASIVE MANUFACTURING CORPORATION, ET AL., respondents.

D E C I S I O N

This is a petition for accounting filed by complainant whereby she requires the corporate respondents to render an accounting of the shares of stock, properties, interests, income, and cash or stock dividends held by them and which may be due and owing to her deceased husband Vicente Sy or Khaw Tee. She also prays for such other relief that may be just and equitable under the premises. DITEAc

She alleges that she is the surviving spouse and heir of Vicente Sy (Khaw Tee) who died intestate; that her husband was an incorporator/stockholder of Acme Abrasive Manufacturing Corp. (Acme for brevity) and Madison Realty Corp. (Madison for brevity);that her husband did not transfer his shares of stock, interest, or properties in said respondents companies, hence, they held the same in trust for the heirs of Vicente Sy; and that despite demands, respondents refused to account for her husband's properties, shares or...

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