Pinoy Law Student Buddy

Wilson Go and Peter Go v. Resureccion Bihis G.R. No. 211972, July 22, 2015 Facts: In 1960, Felisa Buenaventura who owns a parcel of land in Quezon City supposedly sold to her daughter Bella and the latter‘s husband Delfin and Felimon Buenaventura the subject property to assist them in obtaining a loan from the GSIS. A new TCT was issued in the name of Bella, Delfin, and Felimon. Sometime in 1970, Felisa wrote a letter to Bella and Delfin reiterating therein the reason why she allowed the transfer of the title in their names. In the same letter, Felisa stated that she wanted that all her properties including the subject land to be divided equally among her heirs. Upon Felisa's death in 1994, the Bihis Family, Felisa's other heirs who have long been occupying the subject property, caused the annotation of their adverse claim over the same on TCT. Subsequently, however, or on January 22, 1997, the said annotation was cancelled, and the next day, the Heirs of Felimon, S...

Security and Exchange Commission v. Hon. Laygo et al. G.R. No. 188639, September 02, 2015 Facts: Pursuant to the mandate of Securities Regulation Code, the SEC issued the New Rules on the Registration and Sale of Pre-Need Plans to govern the pre-need industry prior to the enactment of the Pre-Need Code. It required from the pre-need providers the creation of trust funds as a requirement for registration. Legacy, being a pre-need provider, complied with the trust fund requirement and entered into a trust agreement with Land Bank. In mid-2000, the industry collapsed for a range of reasons. Legacy, like the others, was unable to pay its obligations to the plan holders. This resulted in Legacy being the subject of a petition for involuntary insolvency by private respondents in their capacity as plan holders. Through its manifestation filed in the RTC, Legacy did not object to the proceedings and was declared insolvent by the RTC. The trial court also ordered Legacy to submit an i...