&etitioner General

Credit Corporation
(GCC), then known
as Commer ial
Credit
Corporation(CCC),
established CCC
fran hise
ompanies
in different urban
enters of the
ountr'. In
furtheran e ofits
business, GCC was
able to se ure
li ense from
Central ank (C )
and $ C to en!a!e
also in
*uasi+bankin!
a tivities. On the
other hand,
respondent
CCC *uit'
Corporation ( -
I# ) was or!ani/ed
in b'GCC for the
purpose of, amon!
other thin!s, takin!
over the operations
and mana!ement of
the
variousfran hise
ompanies. At a
time material
hereto, respondent
Alsons
Development and
InvestmentCorporat
ion (A0$O1$) and
the Al antara
famil', ea h owned,
just like GCC,
shares in the
aforesaid
GCCfran hise
ompanies, e.