G.R. No. 126881 - HEIRS OF TAN ENG KEE, VS. COURT OF APPEALS AND BENGUET LUMBER COMPANY, REPRESENTED BY ITS PRESIDENT TAN ENG LAY.D E C I S I O N - Supreme Court E-Library

Ruling

WHEREFORE, in view of all the foregoing, judgment is hereby rendered: a) Declaring that Benguet Lumber is a joint adventure which is akin to a particular partnership; b) Declaring that the deceased Tan Eng Kee and Tan Eng Lay are joint adventurers and/or partners in a business venture and/or particular partnership called Benguet Lumber and as such should share in the profits and/or losses of the business venture or particular partnership; c) Declaring that the assets of Benguet Lumber are the same assets turned over to Benguet Lumber Co. Inc. and as such the heirs or legal representatives of the deceased Tan Eng Kee have a legal right to share in said assets; d) Declaring that all the rights and obligations of Tan Eng Kee as joint adventurer and/or as partner in a particular partnership have descended to the plaintiffs who are his legal heirs. e) Ordering the defendant Tan Eng Lay and/or the President and/or General Manager of Benguet Lumber Company Inc. to render an accounting of all the assets of Benguet Lumber Company, Inc. so the plaintiffs know their proper share in the business; f) Ordering the appointment of a receiver to preserve and/or administer the assets of Benguet Lumber Company, Inc. until such time that said corporation is finally liquidated are directed to submit the name of any person they want to be appointed as receiver failing in which this Court will appoint the Branch Clerk of Court or another one who is qualified to act as such. g) Denying the award of damages to the plaintiffs for lack of proof except the expenses in filing the instant case. h) Dismissing the counter-claim of the defendant for lack of merit. SO ORDERED.