5/3/2021 E-Library - Information At Your Fingertips: Printer Friendly capital subscription as listed in the articles of incorporation. Tan Chona, however, did not heed his demand (TSN-Patalinghug, 27 January 1992, p. 3) although sometime in September 1990, he promised to pay when he comes back from the United States. They met again after Tan Chona's arrival and during the meeting, Johnny was given copies of several documents including a joint venture agreement and a memorandum of agreement (TSNPatalinghug, 27 January 1992, p. 11). "On the advise of friends, Johnny decided to send a written demand to Tan Chona. The letter was sent on 8 January 1991 through his counsel and his uncle (TSN-Patalinghug, 27 January 1992, p. 4-6). "On Tan Chona's request, they met to discuss the matter at the Hai Pa Wang Restaurant located at Dasmariñas Street, Manila. The meeting was also attended by some of their friends. It was agreed at the meeting that the money should be given to him in order to avoid litigation and any future misunderstanding. This is because there were no documents to prove the other defendants' claim over the money as it was Johnny who dealt with Tan Chona and his claim is supported by documents (TSN-Patalinghug, 27 January 1992, pp. 6-8). "Tan Chona, however, expressed regrets that he cannot make a decision at that meeting because he is apprehensive of the reaction of the other members of the Uy family, especially since the eldest Uy is his brother-inlaw. Tan Chona then suggested another meeting to which everyone in the meeting agreed (TSN-Patalinghug, 27 January 1992, p. 8). The proposed meeting was not held, however, because before the date set for the meeting, Johnny received the summons for the interpleader case filed by Tan Chona (TSN-Patalinghug, 27 January 1992, p. 8). "Ban Hua, who testified on behalf of herself and the other defendants, presented the following version of the circumstances relating to the Hongfil investment. "In 1985, Tan Chona invited the Uy family, particularly Johnny, Ban Hua and Ban Ha to join him in putting up a shipping business and to invest US$100,000 or ten percent of the total or entire investment (TSN-Ybanez, 23 January 1992, p. 17-18, 22). This amount will be utilized partly as capital investment in the shipping corporation and partly in purchasing a vessel (TSN-Ybanez, 23 January 1992, p. 23). "After some discussions, the Uy family accepted the proposal and set some terms and conditions regarding the (1) nature of the investment and those who shall participate therein; (2) source of investment and (3) manner of implementation (TSN-Ybanez, 23 January 192, pp. 23-24). "As agreed, the $100,000.00 was to be a personal investment of the Uy family members who are listed as stockholders of Soon Kee. Their investment was to be in proportion to their shareholdings in Soon Kee, in https://elibrary.judiciary.gov.ph/thebookshelf/showdocsfriendly/1/52802 4/11