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

Posted on February 29, 2012 by Erineus

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 →

Posted in Corporation Law, Labor Law, Obligations and Contracts | Tagged | Leave a comment

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

Posted on February 4, 2012 by Erineus

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 →

Posted in Corporation Law, Labor Law, Termination | Tagged | Leave a comment

Nature and Features Corporate Rehabilitation

Posted on February 3, 2012 by Erineus

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 →

Posted in Action for Claims, Corporate Rehabilitation, Corporation Law | Leave a comment

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

Posted on December 21, 2011 by Erineus

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

Posted on December 21, 2011 by Erineus

“‘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 →

Posted in Corporation Law, Definitions | Tagged | Leave a comment