The P2-million suit filed by a member of Wack Wack Golf and Country Club against three of the club's officials has nothing to do with the forthcoming elections in one of the country's exclusive golf clubs.
"Although the club's elections are still months away, Mr. Basilio Manalo's move is just a personal initiative of a member. As a proprietary member, he has all the right to look into the book of accounts of the club," a club member, who asked not to be identified, told The STAR yesterday.
Manalo, citing several failed attempts to inspect the corporate records of the club, has asked the SEC (Securities and Exchange Commission) to intervene and allow him to look into the book of accounts of the club all the way back to 1995.
The news first broke out in the Village Voice, a village paper in the San Juan, Mandaluyong and Pasig areas wherein Manalo was reported to have sued club president Alfredo Masigan, corporate secretary Gabriel Villareal and treasurer Frederic Chan for P2 million in moral, exemplary and litigation damages.
The case stemmed from the three officials' alleged "unjustified and malicious refusal to allow Manalo to exercise his right of inspection and copying of the club's corporate records as provided under Section 74 or Batas Pambansa Blg. 68 otherwise known as the Corporation Code of the Philippines.
Manalo, who made his first request on Feb. 26, 1999, said he has the support of the other club members.
"As a result of the club officials' wanton, fraudulent, reckless, oppressive and malevolent manner in refusing to allow complainant to exercise his legal right, and by making it appear that he has no legitimate purpose and that he merely acted based on rumors, the complainant suffered besmirched reputation, social humiliation, wounded feeling and serious anxiety," the report said.