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Puerto Azul Land, INC. (PALI) is a corporation engaged in the real estate business. PALI asked the Philippine Stock Exchange (PSE) to list its shares to facilitate exchange. The PSE denied PALI's application on the ground that there were multiple claims on the assets of PALI. The Supreme Court emphasized that The SEC may only reverse decisions issued by the PSE if such are tainted with bad faith.
Puerto Azul Land, INC. (PALI) is a corporation engaged in the real estate business. PALI asked the Philippine Stock Exchange (PSE) to list its shares to facilitate exchange. The PSE denied P…