Gerardo O. Lanuza, Jr. v. Ma. Vivian Yuchengco

Summary

Petitioner Lanuza challenged the election of nine Board of Governors of Makati Stock Exchange (MKSE) in 1993, claiming they were disqualified under MKSE bylaws requiring board members to be 'members in good standing' who own seats in the exchange. While respondents were nominees of corporate members, petitioner argued they did not personally own MKSE seats. The SEC-SICD initially ruled in favor of petitioner, disqualifying respondents. However, when MKSE merged with Manila Stock Exchange to form Philippine Stock Exchange, the SEC En Banc dismissed respondents' appeal as moot. The Supreme Court ultimately affirmed that the case became academic since MKSE no longer existed, making any disqualification ruling pointless. The Court also denied petitioner's claim for attorney's fees, finding no basis under the Civil Code. This case demonstrates how corporate mergers can render pending litigation moot when the subject entity ceases to exist.