Assignment:

who is an interlocking director?

Interlocking directors are persons who serve as member of the board of directors of two or more
competing corporations or corporations engaged in practically the same kind of business.

Effect of Corporate contracts with interlocking directors

Interlocking directors of corporations does not make a contract between or among the
corporations void and of no effect provided there in no fraud and reasonable under the
circumstances.

identify who is the interlocking director in the following public corporations:

1. WATERFRONT PHIL INC
Elvira Ting
Ms. Elvira A. Ting earned her Bachelor’s Degree in Business Administration major in
Management from the Philippine School of Business Administration. Has been the
Director of Waterfront Philippines, Inc., since October 2000-present. She is also the
President/Director of Philippine Estates Corp., a director Wellex Industries, Inc., The
Wellex Group, Inc., and Forum Pacific, Inc. She is also a Director/CFO of Acesite Phils.
Inc. since 2004-present.
Lamberto B. Mercado, Jr.
Currently a Director of the following publicly listed companies: Waterfront Philippines
Inc., Wellex Industries, Inc., Forum Pacific, Inc., Metro Alliance Holdings & Equities
Corp. and Acesite (Phils.) Hotel Corporation.
Kenneth Gatchalian
He has been a director of WPI since February 2001. He is concurrently a director of
Forum Pacific, Inc., Mabuhay Vinyl Corporation and Wellex Industries, Inc. Mr.
Gatchalian is the Executive Vice-President and Chief Operating Officer of Phil. Estates.
Ruben D. Torres (Director)
Mr. Ruben Torres graduated in the University of the Philippines with a degree of
Bachelor of Arts (Political Science) after which, he finished the degree of Bachelor of
Laws at the same university. Presently he is also the President of BPO Workers
Association of the Philippines and Senior Partner of Torres Caparas Torres Law Office.
He is associated with the Integrated Bar of the Philippines and Philippine Academy of
Professional Arbitrators. His former positions include being a Member of the House of
Representatives of the 2nd District of Zambales, Executive Secretary of the Office of the
President in Malacañang, Secretary of the Department of Labor and Employment. Mr.
Torres became an Independent Director of Waterfront Philippines, Inc. since August
2006-present. He is a Member of Board of Advisers of TYTANA Colleges, Owner of
 Kitsie’s Farms, Iba Zambales and CEO of Optimus Medical Care and Trading
Corporation.

2. WELLEX INDUSTRIES INC

Kenneth Gatchalian
He has been a director of WPI since February 2001. He is concurrently a director of
Forum Pacific, Inc., Mabuhay Vinyl Corporation and Wellex Industries, Inc. Mr.
Gatchalian is the Executive Vice-President and Chief Operating Officer of Phil. Estates.
Elvira Ting
Has been the Director of Waterfront Philippines, Inc., since October 2000-present. She
is also the President/Director of Philippine Estates Corp., a director Wellex Industries,
Inc., The Wellex Group, Inc., and Forum Pacific, Inc. She is also a Director/CFO of
Acesite Phils. Inc. since 2004-present
3. ACESITE (PHIL) HOTEL CORP
Atty. Aristeo R. Cruz
Independent Director
Elvira Ting
Has been the Director of Waterfront Philippines, Inc., since October 2000-present. She
is also the President/Director of Philippine Estates Corp., a director Wellex Industries,
Inc., The Wellex Group, Inc., and Forum Pacific, Inc. She is also a Director/CFO of
Acesite Phils. Inc. since 2004-present.
Lamberto B. Mercado, Jr.
Currently a Director of the following publicly listed companies: Waterfront Philippines
Inc., Wellex Industries, Inc., Forum Pacific, Inc., Metro Alliance Holdings & Equities
Corp. and Acesite (Phils.) Hotel Corporation.
Dee Hua T. Gatchalian
Mrs. Gatchalian was elected director of the Company since 24 June 2004-present. She
is the Executive Vice-President of The Wellex Group, Inc., and also the Executive Vice-
President of Plastic City Corporation. She is a board of director of Philippine Estates
Corporation, and Acesite (Phils.) Hotel Corp.
Reno I. Magadia
He is also the  Managing Director of Metro Combined Logistics Solutions, Inc. He is on
the Board of Directors of Metro Alliance Holdings and Equities Corporation. He held the
posts of Vice President and Director of Mercator Filter Manufacturing Corporation. 

Ruben D. Torres (Director)

 Mr. Ruben Torres graduated in the University of the Philippines with a degree of
Bachelor of Arts (Political Science) after which, he finished the degree of Bachelor of
Laws at the same university. Presently he is also the President of BPO Workers
Association of the Philippines and Senior Partner of Torres Caparas Torres Law Office.
He is associated with the Integrated Bar of the Philippines and Philippine Academy of
Professional Arbitrators. His former positions include being a Member of the House of
Representatives of the 2nd District of Zambales, Executive Secretary of the Office of the
President in Malacañang, Secretary of the Department of Labor and Employment. Mr.
Torres became an Independent Director of Waterfront Philippines, Inc. since August
2006-present. He is a Member of Board of Advisers of TYTANA Colleges, Owner of
Kitsie’s Farms, Iba Zambales and CEO of Optimus Medical Care and Trading
Corporation.

4. FORUM PACIFIC, INC

Kenneth Gatchalian
He has been a director of WPI since February 2001. He is concurrently a director of
Forum Pacific, Inc., Mabuhay Vinyl Corporation and Wellex Industries, Inc. Mr.
Gatchalian is the Executive Vice-President and Chief Operating Officer of Phil. Estates.
Elvira Ting
Has been the Director of Waterfront Philippines, Inc., since October 2000-present. She
is also the President/Director of Philippine Estates Corp., a director Wellex Industries,
Inc., The Wellex Group, Inc., and Forum Pacific, Inc. She is also a Director/CFO of
Acesite Phils. Inc. since 2004-present.
Lamberto B. Mercado, Jr.
Currently a Director of the following publicly listed companies: Waterfront Philippines
Inc., Wellex Industries, Inc., Forum Pacific, Inc., Metro Alliance Holdings & Equities
Corp. and Acesite (Phils.) Hotel Corporation.
Sergio R. Ortiz-Luis Jr.
Director of Manila Exposition Complex, Inc. Lasaltech Academy, Philippine Estate
Corporation, BA Securities, Rural Bank of Baguio, PILAK Foundation, Universal Access
Center Trade, Philippine International Training Corporation, Philippine Foundation, Inc.
(Team Philippines), Forum Pacific, Inc., Calapan Ventures, Inc., and Jolliville Holdings
Corporation. 

5. METRO ALLIANCE HOLDINGS AND EQUITIES CORP.

Lamberto B. Mercado, Jr.
Currently a Director of the following publicly listed companies: Waterfront Philippines
Inc., Wellex Industries, Inc., Forum Pacific, Inc., Metro Alliance Holdings & Equities
Corp. and Acesite (Phils.) Hotel Corporation.
Atty. Aristeo R. Cruz
Atty. Cruz graduated from De La Salle University with a Bachelor in Commerce major in
Accounting on 1986. He was also a graduate of Bachelors of Laws from New era
University in 2005 as Cum Laude, Outstanding Student Awardee, and Class
valedictorian. He is a certified Public Accountant and a member of the Philippine Bar. He
is the Founding and Managing Partner of Cruz Altares & Associates Law Office. He is
the President and Chief operating Officer of Idealand Realty and Development Corp.
since 2009 and Statosphere Realty and Development Corp. since 2011. He is the
President of Waterstreet Realty [Link] 2012, Director of Metro Alliance Holdings
and Equities Corp. since 2015, Director and Corporate Secretary of Philstar Innovation
Realty Corp. since 2011 and Justino Emilia Realty and Management & Development
Corp since 20018, and Vice President of Liberty bank since 2018. He is the President of
Jose and Luz Locsin Foundation since 2012. He is the Vice Chairman and Director of
Dean of Meycauayan College, Inc. since 2011 and 2007, respectively.
Reno I. Magadia
He is also the  Managing Director of Metro Combined Logistics Solutions, Inc. He is on
the Board of Directors of Metro Alliance Holdings and Equities Corporation. He held
the posts of Vice President and Director of Mercator Filter Manufacturing Corporation. 

Sec 98. ABC tells the constructive notice

D. Instance where a notice is served but still proceed to transfer
E. exception: even if there is violaton, it could still be possible (all SH agreed or amends
AOI)
F. include donations, sale, etc. (any kind of transfers)
g.