It’s final: Ex-Salcedo Towers president ordered to make way for estranged wife

Follow by Email
Facebook
Facebook
Twitter

The Court of Appeals (CA) has affirmed the order for the former president of The Salcedo Towers Condominium Corporation (TSTCC) to permanently stop misrepresenting himself as its trustee and corporate officer and yield his post to his duly-elected estranged wife.

In a recent 19-page decision, the CA 4th Division denied Gerardo Flores’s appeal on the May 2015 decision of the Makati City Regional Trial Court (RTC) Branch 66.

The trial court decision had also ordered Flores to fully account for and return P4,264,080.49 in payments made by TSTCC’s lessees as of December 11, 2012, as well as turn over all of the company’s property and vacate the condominium building. Flores was also directed to pay P127,922.41 in exemplary damages and P42,640 in attorney’s fees.

The company accused Flores of refusing to yield the post despite not being reelected during the 2010 annual stockholders’ meeting. However, Flores claimed the issue was not an intracorporate dispute but a marital one between him and his estranged wife, elected president Angelita Bondoc.

The CA disagreed with Flores’s contention and said Flores only raised the marital issue “to muddle the facts of the case.”

It said the stockholders’ meeting was valid and did not suffer from any infirmities, as the minutes stated the presence of a quorum.

“Consequently, he has no right to represent himself as respondent TSTCC’s Director and President, and to retain possession of its checks, moneys, and The Salcedo Towers Condominium building,” read the decision penned by Associate Justice Carmelita Salandanan Manahan.

Copyright © 2019 Abogado - Latest News in the Philippines