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	GR No. 166760 2008-08-22	EASTRIDGE GOLF CLUB v. EASTRIDGE GOLF CLUB AUSTRIA-MARTINEZ, J.
If the closure of business due to serious business losses or financial reverses is shown to be in good faith, the resultant dismissal of the employees shall be upheld, with no separation benefits due them.[58] If the closure of business is not due to serious business losses or financial reverses but it is shown to be in good faith, the resultant dismissal of the employees will still be upheld but the latter shall be entitled to separation pay at the rate of ½ month pay for every year of service or one month pay, whichever is higher.[59]
	GR NO. 158132 2007-07-04	RAYCOR AIRCONTROL SYSTEMS v. MARIO SAN PEDRO AUSTRIA-MARTINEZ, J.
To justify termination of employment under Article 283[24] of the Labor Code, the employer must prove compliance with the following requirements: (a) a written notice must be served on the employees, and the Department of Labor and Employment (DOLE) at least one month before the intended cessation of business;[25] and (b) the cessation of business must be bona fide in character.[26]