[SEC-SICD * CASE NO. 07-98-6019. March 27, 2000.]
URBANA S. BAGADIONG, ET AL., complainants, vs. JOAQUIN T. BAGADIONG, ET AL., respondents.
D E C I S I O N
This complaint was instituted by Urbana S. Bagadiong (Urbana),stockholder, director and officer of Graybar Marketing and Electrical Services Corporation (Graybar) for the purpose of obtaining the following reliefs:
a annulment of the board of directors' meeting of Graybar held on March 30, 1998 and annulment of the board resolution adopted at said meeting for lack of the requisite notice to complainant Urbana;
b. inspection and examination by complainant Urbana of the financial records and books of account of Graybar;
c. prevention of respondents and/or their representatives and collectors from further collecting and receiving the receivables and collectibles of Graybar from its clients and debtors, and from further disbursing corporate funds through the issuance of checks until the mortgage obligations of Graybar to the Philippine National Bank (PNB) and Metrobank have been fully paid;
d. authorization of complainant Urbana and/or her duly authorized representative, in lieu of respondents, to collect and receive the receivables...
