REPUBLIC OF THE PHILIPPINES v. PAUL CO, as President and Chief Executive Officer (CEO) of Oilink International Corporation, and the Members of its Board of Directors

REPUBLIC OF THE PHILIPPINES COURT OF TAX APPEALS QUEZON CITY FIRST DIVISION REPUBLIC OF THE PHILIPPINES, C.T.A. CASE NO. 7710 Petitioner, M e m b er s: -versus- ACOSTA, Chairman BAUTISTA, and CASANOVA, JJ. PAUL CO, as President and Chief Promulgated: Executive Officer (CEO) of OILINK INTERNATIONAL CORPORATION, MAR 25 2008 . F4o P And the MEMBERS OF ITS BOARD OF DIRECTORS, Respondents. X- - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - RESOLUTION On March 14, 2008, the court acting on the "Joint Motion to Dismiss," filed by both parties, GRANTED said motion considering the parties have entered into a "Settlement Agreement" whereby the respondents have settled their obligation upon payment ofthe sum ofP115,512,048.00 in full satisfaction of its liabilities covered in CTA Case No. 7664 entitled "Oilink International Corporation v. Commissioner of Customs, Napoleon L. Morales and the Bureau of Customs." WHEREFORE, the Petition for Review, posted on October 5, 2005, is hereby DISMISSED. This case is now considered CLOSED AND TERMINATED. SO ORDERED. (On leave) ERNESTO D. ACOSTA Presiding Justice CAESAR A. CASANOVA Associate Justice