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    3 Magsaysay vs. CA

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    Edgar Jino Bartolata
    The petitioners, who are the sisters of the late Senator Magsaysay and stockholders of Subic Land Co., filed a motion to intervene in a case between Rodriguez-Magsaysay and the Court of Appeals regarding land that was jointly purchased by Rodriguez-Magsaysay and the late senator but was later fraudulently transferred to Subic Land Co. and mortgaged. The Court denied the petitioners' motion to intervene, finding that as mere shareholders of Subic Land Co., the petitioners' interest in the case was too indirect, remote, and inchoate. Only the corporation itself could participate in the case, not its stockholders, since the corporation is a separate juridical entity

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    3 Magsaysay vs. CA

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    Edgar Jino Bartolata
    75 views1 page
    The petitioners, who are the sisters of the late Senator Magsaysay and stockholders of Subic Land Co., filed a motion to intervene in a case between Rodriguez-Magsaysay and the Court of Appeals regarding land that was jointly purchased by Rodriguez-Magsaysay and the late senator but was later fraudulently transferred to Subic Land Co. and mortgaged. The Court denied the petitioners' motion to intervene, finding that as mere shareholders of Subic Land Co., the petitioners' interest in the case was too indirect, remote, and inchoate. Only the corporation itself could participate in the case, not its stockholders, since the corporation is a separate juridical entity

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    The petitioners, who are the sisters of the late Senator Magsaysay and stockholders of Subic Land Co., filed a motion to intervene in a case between Rodriguez-Magsaysay and the Court of Appeals regarding land that was jointly purchased by Rodriguez-Magsaysay and the late senator but was later fraudulently transferred to Subic Land Co. and mortgaged. The Court denied the petitioners' motion to intervene, finding that as mere shareholders of Subic Land Co., the petitioners' interest in the case was too indirect, remote, and inchoate. Only the corporation itself could participate in the case, not its stockholders, since the corporation is a separate juridical entity

    Copyright:

    Attribution Non-Commercial (BY-NC)
    Download as DOCX, PDF, TXT or read online from Scribd
    Download as docx, pdf, or txt
    75 views1 page

    3 Magsaysay vs. CA

    Uploaded by

    Edgar Jino Bartolata
    The petitioners, who are the sisters of the late Senator Magsaysay and stockholders of Subic Land Co., filed a motion to intervene in a case between Rodriguez-Magsaysay and the Court of Appeals regarding land that was jointly purchased by Rodriguez-Magsaysay and the late senator but was later fraudulently transferred to Subic Land Co. and mortgaged. The Court denied the petitioners' motion to intervene, finding that as mere shareholders of Subic Land Co., the petitioners' interest in the case was too indirect, remote, and inchoate. Only the corporation itself could participate in the case, not its stockholders, since the corporation is a separate juridical entity

    Copyright:

    Attribution Non-Commercial (BY-NC)
    Download as DOCX, PDF, TXT or read online from Scribd
    Download as docx, pdf, or txt
    of 1

    G.R. No.

    58168 December 19, 1989 CONCEPCION MAGSAYSAY-LABRADOR, SOLEDAD MAGSAYSAY-CABRERA, LUISA MAGSAYSAY-CORPUZ, assisted be her husband, Dr. Jose Corpuz, FELICIDAD P. MAGSAYSAY, and MERCEDES MAGSAYSAY-DIAZ,petitioners, vs. THE COURT OF APPEALS and ADELAIDA RODRIGUEZ-MAGSAYSAY, Special Administratrix of the Estate of the late Genaro F. Magsaysay respondents. FERNAN, C.J.: Facts: Rodriguez-Magsaysay was married to the late Senator Magsaysay. They jointly bought a land in Subic while the senator was still alive. When the latter died, Rodriguez-Magsaysay was shocked to find out that their land was fraudulently transferred through a deed of assignment to a corporation called Subic Land Co. Later, it was mortgaged to Filmanbank. Consequently, the petitioners, who are the sisters of the late senator and stockholders of the Subic Land Co. filed a motion for intervention contending that they have a legal standing to intervene in the case. Their motion for intervention was denied. Issue: WON the petitioners have a legal standing to the case as they are shareholders of the corporation Held: No. The interest which entitles a person to intervene in a suit between other parties must be in the matter in litigation and of such direct and immediate character that the intervenor will either gain or lose by the direct legal operation and effect of the judgment. Here, the interest, if it exists at all, of petitioners-movants is indirect, contingent, remote, conjectural, consequential and collateral as they are merely shareholders. At the very least, their interest is purely inchoate, or in sheer expectancy of a right in the management of the corporation and to share in the profits thereof and in the properties and assets thereof on dissolution, after payment of the corporate debts and obligations. The corporation is a separate juridical entity from its stockholders. It must be the corporation itself that can participate in the case. Petition is denied.

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