By Perfecto T. Raymundo
MANILA, Aug. 21 (PNA) –The Court of Appeals (CA) has sent back the intra-corporate dispute at Gotesco Investment, Inc. (GII) to the Manila Regional Trial Court (RTC) for a full-blown trial.
The case involves two opposing groups, which are both claiming control over the company following the death of businessman Go Tong, GII founder, in 1994.
“The instant case is hereby ordered remanded to the trial court for further proceedings,” the CA said.
“We find it necessary for the trial court (as a commercial court) to conduct a full-blown trial on the merits to ferret out the truth surrounding the intra-corporate controversy that is involved in the instant case,” the CA said.
In a 31-page ruling written by Associate Justice Stephen Cruz, the CA’s Sixth Division granted the petition for review filed by GII, represented by George Go and Vicente Go, as its attorneys-in-fact, and in their own personal capacities as stockholders and directors of the company.
Impleaded in the petition were Joel Go, Jonathan Go, Johann Go, Welson Yap, Eduardo Tan, Evelyn Go and Lourdes Ortiga.
Go Tong died in 1994 leaving his children, namely George, Jose Go, Vicente, Nenita Lim, Cristina Aragon, Evelyn and Ortiga.
Claiming to be the chairman of GII, George Go sent letters on Feb. 7, 2014 to Ortiga and Joel Go, as the respective corporate secretary and chairman/president of GII, calling their attention on the replacement of the directors and officers and stockholders of the firm in the General Information Sheet (GIS) with the Securities and Exchange Commission (SEC) for the year 2013.
However, the 2014 GIS of Gotesco showed that the same set of officers had been restored to what it was prior to undertaking under the 2013 amendment.
The George Go’s group filed a complaint against the Joel Go’s group on March 21, 2014 for intra-corporate controversy and damages before the Manila RTC.
However, the Manila RTC dismissed the complaint on June 5, 2014 for being no cause of action against the respondents.
But the CA, in its ruling reversed and set aside the RTC decision.
Concurring in the ruling were Associate Justices Fernanda Lampas Peralta and Ramon Paul Hernando. (PNA)