CORPO

CORPO

Storyboard Text

  • RESPONDENT CONTENDED THAT
  • JOSE CONCHA, A MEMBER OF THE BOARD OF DIRECTORS OF MEGAN, ACCOMPANIED ATTY. SABIG DURING THE HEARING, AND ALL THE MOTIONS PLEADINGS, AND COURT ORDERS WERE SENT TO MEGAN'S OFFICE, BUT DESPITE THESE, IT DID NOT REPUDIATED THE AUTHORITY OF ATTY. SABIG.
  • MEGAN IS ALREADY ESTOPEED FROM ASSAILING THE AUTHORITY OF ATTY. SABIG.
  • EPCIB FILED A MOTION FOR DELIVERY/DEPOSIT OF MILL SHARES/RENTALS
  • ON THE SAME DAY, NFSC FILED A MOTION TO ORDER DEPOSIT OF MILLER'S SHARE (37%) OR THE LEASE CONSIDERATION UNDER THE MOA BETWEEN NFSC AND CIMCO
  • NFSC FILED ANOTHER MOTION TO HOLD IN ESCROW SUGAR QUEDANS OR PROCEEDS OF SUGAR SALES EQUIVALENT TO MILLER'S SHARES.
  • PASSI SUGAR FILED A MOTION TO ORDER DEPOSIT MILL SHARE PRODUCTION OF MEGAN AND/OR CIMCO.
  • THE CA ISSUED A DECISION DISMISSING MEGAN'S PETITION, RULING THAT SINCE ATTY. SABIG HAD ACTIVELY PARTICIPATED BEFORE THE RTC, MEGAN WAS ALREADY ESTOPPED FROM ASSAILING THE RTC'S JURISDICTION
  • MEGAN'S BOARD OF DIRECTORS DID NOT ISSUE A RESOLUTION AUTHORIZING ATTY. SABIG TO REPRESENT THE CORPORATION BEFORE THE RTC.
  • ATTY. SABIG WAS AN UNATHORIZED AGENT AND AS SUCH, HIS ACTIONS SHOULD NOT BIND THE CORPORATION.
  • END.
  • ATTY. SABIG HAD ACTIVELY PARTICIPATED IN THE PROCEEDINGS BEFORE THE RTC AND HAD FILED NUMEROUS MOTIONS ASKING FOR AFFIRMATIVE RELIEF.
  • THE LOAN WAS SECURED BY A REAL ESTATE MORTGAGE OVER NFSC'S LAND CONSISTING OF 92 HECTARES, AND A CHATTEL MORTGAGE OVER NFSC'S SUGAR MILL.
  • IN THIS CASE, MEGAN IS ESTOPPED FROM ASSAILING BOTH THE AUTHORITY OF ATTY. SABIG AND THE JURISDICTION OF THE RTC. WHILE IT IS TRUE, AS CLAIMED BY MEGAN, THAT ATTY. SABIG SAID IN COURT THAT HE WAS ONLY APPEARING FOR THE HEARING OF PASSI SUGAR'S MOTION FOR INTERVENTION AND NOT FOR THE CASE ITSELF, HIS SUBSEQUENT ACTS, COUPLED WITH MEGAN'S INACTION AND NEGLIGENCE TO REPUDIATE HIS AUTHORITY, EFFECTIVELY BARS MEGAN FROM ASSAILING THE VALIDITY OF THE RTC PROCEEDINGS UNDER THE PRINCIPLE OF ESTOPPEL.
  • MEGAN CAN NO LONGER DENY THE AUTHORITY OF ATTY. SABIG AS THEY HAVE ALREADY CLOTHED HIM WITH APPARENT AUTHORITY TO ACT IN THEIR BEHALF, IT MUST BE NOTED THAT WHEN ATTY. SABIG ENTERED HIS APPEARANCE, HE WAS ACCOMPANIED BY CONCHA, MEGAN'S DIRECTOR AND GENERAL MANAGER.
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