AGREEMENT TO TERMINATE ACTION
Petitioner and Respondent, assisted by their undersigned counsels, unto this Honorable Court, most respectfully state that:
1. The parties have agreed to amicably settle this case by agreeing to terminate the same, including the cases from which it originated, with herein parties waiving any and all of their claims arising out of or necessarily connected with this case and its originating cases, to wit--
- Civil Case No. 2006-010 for recovery of shares of stock and damages where respondent was the plaintiff and which case was dismissed by the Branch 17 of the Regional Trial Court of Cagayan de Oro City.
- CA G.R. SP No. 02271-MIN, 21st Division of the Court of Appeals filed by respondent as the petitioner in a Petition for Review from the aforementioned dismissal of his case by the Regional Trial Court. The respondent was awarded by the Court of Appeals with the contested shares of stock.
2. The parties shall bear their own litigation expenses in this case and the originating cases.
3. This settlement is for the sole purpose of buying peace, reestablishing goodwill and limiting legal expenses and costs and/or avoid further protracted, tedious and expensive litigation and is in no way an admission of fault or liability on the part of the parties for any wrongful acts.
WHEREFORE, premises considered, it is most respectfully prayed of this Honorable Court that the foregoing agreement be approved and that a Judgment be rendered thereon expressly incorporating the foregoing terms.
Cebu City and Cagayan de Oro City, Philippines, April 1, 2011.
(sgd) ALEXANDER S. GAISANO (sgd) BENJAMIN C. AKOL Petitioner Respondent Assisted by: Assisted by: (sgd) ANNABEL G. PULVERA-PAGE (sgd) ARMANDO S. KHO x x x x x x x x RIVERAL PULVERA & ASSOCIATES KHO, ROA & PARTNERS Counsel for Petitioner Counsel for Respondent
Endnotes:
* Per Special Order No. 1003 dated June 8, 2011.
** Additional member per Special Order No. 1000 dated June 8, 2011.
1 Rollo, pp. 43-59. Penned by Associate Justice Elihu A. Ybañez and concurred in by Associate Justices Romulo V. Borja and Danton Q. Bueser.
2 Id. at 60-65.
3 Id. at 96-104. Penned by Presiding Judge Florencia D. Sealana-Abbu.
4 Uy v. Chua, G.R. No. 183965, September 18, 2009, 600 SCRA 806, 817; California Manufacturing Company, Inc. v. The City of Las Piñas, G.R. No. 178461, June 22, 2009, 590 SCRA 453, 457; Tankiang v. Alaraz, G.R. No. 181675, June 22, 2009, 590 SCRA 480, 496.
5 Calingin v. Civil Service Commission, G.R. No. 183322, October 30, 2009, 604 SCRA 818, 824.