Lawyerly

You're currently signed in as:
User

This case has been cited 2 times or more.

	GR No. 166760 2008-08-22	EASTRIDGE GOLF CLUB v. EASTRIDGE GOLF CLUB AUSTRIA-MARTINEZ, J.
That retrenchment is necessary to prevent losses and it is proven, by sufficient and convincing evidence such as the employer's financial statements audited by an independent and credible external auditor,[39] that such losses are substantial and not merely flimsy[40] and actual or reasonably imminent; [41] and that retrenchment is the only effective measure to prevent such imminent losses; [42]
	GR No. 178083 2008-07-23	FLIGHT ATTENDANTS v. PHILIPPINE AIRLINES YNARES-SATIAGO, J.
In establishing a unilateral claim of actual or potential losses, financial statements audited by independent external auditors constitute the normal method of proof of profit and loss performance of a company.[57] The condition of business losses justifying retrenchment is normally shown by audited financial documents like yearly balance sheets and profit and loss statements as well as annual income tax returns. Financial statements must be prepared and signed by independent auditors; otherwise, they may be assailed as self-serving.[58] A Statement of Profit and Loss submitted to prove alleged losses, without the accompanying signature of a certified public accountant or audited by an independent auditor, is nothing but a self-serving document which ought to be treated as a mere scrap of paper devoid of any probative value.[59]