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PHILIPPINE SUPREME COURT DECISIONS

SECOND DIVISION

[G.R. No. 62925. December 26, 1984.]

THE MANILA BANKING CORP., Petitioner, v. TMBC EMPLOYEES COUNCIL AND THE NATIONAL LABOR RELATIONS COMMISSION, Respondents.

Angara, Concepcion, Regala and Cruz for Petitioner.

The Solicitor General for respondent NLRC.


SYLLABUS


REMEDIAL LAW; JUDGMENT; COMPROMISE AGREEMENT; TERMS AND CONDITIONS NOT CONTRARY TO LAW, MORALS OR PUBLIC POLICY. — The Court approves the compromise agreement submitted by the parties finding the same not contrary to law, morals or public policy, and renders judgment in accordance therewith.


D E C I S I O N


ESCOLIN, J.:


The parties submitted to this Court a compromise agreement, the terms and conditions of which are as follows:jgc:chanrobles.com.ph

"1. Without admitting any liability and in the interest of industrial peace and harmonious employer-employee relation, MANILA BANK, upon ratification by at least a majority of the general membership of TMBSCEC, and approval by the Supreme Court of this Agreement, agrees to pay the sum of P2,500.00 to each of the remaining employees appearing in MANILA BANK’s payroll as of September 30, 1984 who were covered by the 1978-1981 CBA and who would be benefited should the Supreme Court rule against MANILA BANK in G.R. No. 62925, which amount shall be applied in payment of the loan of P2,500.00 which MANILA BANK extended to each of the covered employees in December 1983.

"2. The foregoing payment shall be considered by TMBCEC, and TMBCEC expressly acknowledges and admits the said payment, as the full and complete settlement and satisfaction of any and all claims which the employees and TMBCEC may have against MANILA BANK for payment of the cost of living allowance under P.D. 1634 and for the unworked regular holidays.

"3. During the forthcoming negotiation for renewal of the existing 1983-1985 CBA, MANILA BANK shall favorably consider the grant of P90.00 per month cost of living allowance to the employees benefited by this Agreement."cralaw virtua1aw library

Finding the said compromise agreement not contrary to law, morals or public policy, the Court hereby approves the same and renders judgment in accordance therewith.chanrobles law library : red

SO ORDERED.

Makasiar, Aquino, Concepcion, Jr., Abad Santos and Cuevas, JJ., concur.

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