BIBIANO O. REYNOSO, IV vs. HON. COURT OF APPEALS
BIBIANO O. REYNOSO, IV vs. HON. COURT OF APPEALS and GENERAL CREDIT CORPORATION G.R. Nos. 116124-25. November 22, 2000 Facts: 1. The Commercial Credit Corporation (CCC) decided to organize franchise companies in different parts of the country, wherein it shall hold thirty percent (30%) equity. 2. Employees of the CCC were designated as resident managers of the franchise companies. 3. Petitioner Bibiano O. Reynoso, IV was designated as the resident manager of the franchise company in Quezon City, known as the Commercial Credit Corporation of Quezon City (CCC-QC). 4. CCC-QC entered into an exclusive management contract with CCC whereby the latter was granted the management and full control of the business activities of the former. Under the contract, CCC-QC shall sell, discount and/or assign its receivables to CCC. 5. ...