Category Archives: Corporation Law

Solidary liabilities may at times be incurred by the directors and officers of the corporation but only when exceptional circumstances warrant

Lastly, we deem it imperative to resolve the question of whether Grandteq’s officers, who are co-petitioners herein, are solidarily liable with the company. There is solidary liability when the obligation expressly so states, when the law so provides, or when … Continue reading

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In illegal dismissal cases, corporate officers may be held solidarily liable with the corporation if the termination was done with malice or bad faith

Personal Liability of ETPI’s Officers And Award of Damages Culili asserts that the individual respondents, Salvador Hizon, Emiliano Jurado, Virgilio Garcia, and Stella Garcia, as ETPI’s officers, should be held personally liable for the acts of ETPI which were tainted … Continue reading

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Nature and Features Corporate Rehabilitation

To begin with, corporate rehabilitation connotes the restoration of the debtor to a position of successful operation and solvency, if it is shown that its continued operation is economically feasible and its creditors can recover more, by way of the … Continue reading

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Two-tier test in determining the existence of intra-corporate controversy

Two-tier test in determining the existence of intra-corporate controversy                 Respondents strongly rely on this Court’s pronouncement in the 1997 case of Tabang v. National Labor Relations Commission, to wit: [A]n intra-corporate controversy is one which arises between a stockholder … Continue reading

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Corporate officers

“‘Corporate officers’ in the context of Presidential Decree No. 902-A are those officers of the corporation who are given that character by the Corporation Code or by the corporation’s by-laws.  There are three specific officers whom a corporation must have … Continue reading

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