CARLOS J. VALDES, GABRIEL A.S. VALDES, FATIMA DELA CONCEPTION AND ASUNCION V. MERCADO,* PETITIONERS, VS. LA COLINA DEVELOPMENT CORPORATION (LCDC), PHILIPPINE COMMUNICATION SATELLITE, INC. (PHILCOMSAT), LA COLINA RESORTS CORPORATION (LCRC), MONTEMAR RESORTS AND DEVELOPMENT CORPORATION (MRDC), JOSE MARI CACHO, HONORIO A. POBLADOR III, AND ALFREDO L. AFRICA, RESPONDENTS