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[G.R. No. 146796.May 27, 2002]
CHIQUITA INT'L. LTD. vs. CA, et al.
FIRST DIVISION
Gentlemen:
Quoted hereunder, for your information, is a resolution of this Court dated 27 MAY 2002.
G.R. No. 146796(Chiquita International Ltd. vs. Court of Appeals, Hon. Jesus L. Grageda, Presiding Judge, RTC; Panabo, Davao, Branch 4, Tagum Agricultural Development Corporation.)
Submitted for consideration is the "Motion to Cancel Cash Bond and Authorize the Withdrawal thereof and of the Excess Fund by Petitioner's Counsel" [1] cralaw filed by the law firm of Romulo, Mabanta, Buenaventura, Sayoc & de los Angeles, as counsel for the petitioner.
Considering that the "Certified Resolutions" dated August 21, 2001 of petitioner's Board of Directors, to wit:
"RESOLVED, that the "Compromise Agreement and General Release" between Chiquita Brands International, Inc., Chiquita Brands, Inc. and Chiquita International Limited (the "Company"), on the one hand, and Tagum Agricultural and Development Corporation, Davao Packaging Corporation, United Tropical Fruits, Ltd., and Davao International Ventures Corporation, and Antonio O. Floirendo on the other hand, which agreement is attached hereto and forms, part of these minutes, be, and it is hereby, approved; and that Attorney Fortunato Gupit, Jr. of the law firm of Romulo, Mabanta, Buenaventura, Sayoc & de los Angeles, or any member of the said firm, be, and he is hereby, authorized to sign the same, and to submit it to the Philippine courts concerned for their approval, as indicated in the aforesaid 'Compromise Agreement and General Release.'
"FURTHER RESOLVED that any and all actions heretofore or hereafter taken in the name or in behalf of the Company by any Director, Officer, agent or counsel of the Company in connection with or related to the matters set forth or contemplated by the foregoing resolutions to accomplish the above action be, and they are, adopted, affirmed, approved and ratified in all respects as the acts and deeds of the Company." [2] cralaw
limit the authority of movant counsel to the performance of any and all acts connected with or related to the signing of the compromise agreement and the submission thereof to the courts; that the authority given to said counsel does not cover the withdrawal and receipt of the amount of the cash bond and any excess amount deposited in Court; that the amount involved (P1,091,569.90) is substantial; that no cogent reason was given by movant counsel for seeking the immediate release of the subject funds to counsel and not to petitioner itself; and, that petitioner appears to have no other representative in the Philippines, the Court resolves to require movant counsel to submit within two (2) months a properly authenticated authorization from the Board of Directors of petitioner allowing movant counsel to receive the amount of The cash bond and the excess fund due to petitioner.
Very truly yours,
(Sgd.) VIRGINIA ANCHETA-SORIANO
Clerk of Court
Endnotes:
[1] cralaw Rollo, pp. 293-298.
[2] cralaw Rollo, p. 299.
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