(a) The by-laws of LUMEN Corp require board approval for transfers of shares to persons not already shareholders and provide that a transfer to a non-shareholder is void unless the board approves and the stock transfer b...
Citations: Republic Act No. 11232 (Revised Corporation Code)
(a) The by-laws of NOVATECH Corp require board approval for transfers of shares to persons not already shareholders, and provide that a transfer to a non-shareholder is void unless the board approves and the stock transf...
Citations: Republic Act No. 11232 (Revised Corporation Code), By-laws of NOVATECH Corp (governing transfer of shares and stock transfer book)
A foreign corporation, GlobeLink Transport, organized under the laws of Country Y, seeks to operate a public utility in the Philippines under Commonwealth Act No. 146 as amended by RA 11659, Sec. 25 (Reciprocity Clause)...
Citations: Commonwealth Act No. 146 (Public Service Act), Republic Act No. 11659, Sec. 25 (Reciprocity Clause)
...Holdings, has five stockholders and 3,000 outstanding shares. Its by-laws provide transfer restrictions that keep transfers within existing stockholders, but there is no provision restricting access to corporate records...
Citations: Gokongwei, Jr. v. SEC, G.R. No. L-45911, April 11, 1979; 178 Phil. 266, John Gokongwei, Jr. v. SEC (178 Phil. 266) - Supreme Court E-Library: https://elibrary.judiciary.gov.ph/assets/dtSearch/dtSearch_system_files/dtisapi6.dll?cmd=getdoc&stgd=yes&DocId=25355&request=special%20fact%20doctrine%20inside%20information%20directors%20stockholders%20capital&index=%2a4aeb4dbdcceeda9b59b85ae3fb22cec0&searchFlags=1249280&autoStopLimit=0&fuzziness=3&SearchForm=
APEX BUILDERS, INC., a closely held corporation, by-laws require board approval for transfers to persons not already shareholders and provide that a transfer to a non-shareholder is void unless approved by the board; the...
Citations: John Gokongwei, Jr. v. Securities and Exchange Commission, G.R. No. L-45911, 178 Phil. 266 (1979), John Gokongwei, Jr. v. SEC (178 Phil. 266) - Supreme Court E-Library: https://elibrary.judiciary.gov.ph/assets/dtSearch/dtSearch_system_files/dtisapi6.dll?cmd=getdoc&stgd=yes&DocId=25355&request=special%20fact%20doctrine%20inside%20information%20directors%20stockholders%20capital&index=%2a4aeb4dbdcceeda9b59b85ae3fb22cec0&searchFlags=1249280&autoStopLimit=0&fuzziness=3&SearchForm=
AquaNova Global, Inc., a foreign corporation organized under the laws of Country Phi, seeks a franchise to operate a nationwide water distribution public utility in the Philippines under Commonwealth Act No. 146 as amend...
Citations: Commonwealth Act No. 146, RA 11659, Sec. 25
.... is a Philippine close corporation designated by its articles and by-laws. It has 4,200 outstanding shares held by six stockholders. By-law X provides that a transfer of shares to a person not already a stockholder beco...
Citations: John Gokongwei, Jr. v. SEC, G.R. No. L-45911, April 11, 1979; 178 Phil. 266, John Gokongwei, Jr. v. SEC (178 Phil. 266) - Supreme Court E-Library: https://elibrary.judiciary.gov.ph/assets/dtSearch/dtSearch_system_files/dtisapi6.dll?cmd=getdoc&stgd=yes&DocId=25355&request=special%20fact%20doctrine%20inside%20information%20directors%20stockholders%20capital&index=%2a4aeb4dbdcceeda9b59b85ae3fb22cec0&searchFlags=1249280&autoStopLimit=0&fuzziness=3&SearchForm=
...ora Crest Corporation has 3,000,000 outstanding voting shares. Its by-laws require a two-thirds (2/3) vote of the outstanding capital stock for major corporate actions (e.g., amendments to articles of incorporation or by...
Citations: John Gokongwei, Jr. v. SEC (178 Phil. 266) - Supreme Court E-Library: https://elibrary.judiciary.gov.ph/assets/dtSearch/dtSearch_system_files/dtisapi6.dll?cmd=getdoc&stgd=yes&DocId=25355&request=special%20fact%20doctrine%20inside%20information%20directors%20stockholders%20capital&index=%2a4aeb4dbdcceeda9b59b85ae3fb22cec0&searchFlags=1249280&autoStopLimit=0&fuzziness=3&SearchForm=
Aurora Meridian Co., a foreign corporation organized under the laws of Country Solara, seeks to operate a nationwide rail public utility in the Philippines under Commonwealth Act No. 146, as amended by RA 11659, Sec. 25...
...a Close Co., designated as a close corporation by its articles and by-laws, has 7,200 outstanding shares held by 7 stockholders. The by-laws provide that transfer of shares to a person not already a stockholder becomes e...
...rp., a Philippine close corporation designated by its articles and by-laws, has 4,500 outstanding shares held by five stockholders. Its by-laws provide that transfer of any share to a person not already a stockholder bec...
Citations: John Gokongwei, Jr. v. Securities and Exchange Commission, G.R. No. L-45911, April 11, 1979, John Gokongwei, Jr. v. SEC (178 Phil. 266) - Supreme Court E-Library: https://elibrary.judiciary.gov.ph/assets/dtSearch/dtSearch_system_files/dtisapi6.dll?cmd=getdoc&stgd=yes&DocId=25355&request=special%20fact%20doctrine%20inside%20information%20directors%20stockholders%20capital&index=%2a4aeb4dbdcceeda9b59b85ae3fb22cec0&searchFlags=1249280&autoStopLimit=0&fuzziness=3&SearchForm=
...ed by founders J, K, and L who draft Articles of Incorporation and By-Laws and file them with the Securities and Exchange Commission for registration. Before a certificate of incorporation is issued, the promoters hold a...
Citations: Revised Corporation Code (RA 11232) – pre‑incorporation contracts, directors’ authority before incorporation, and ratification/adoption rules., General doctrine on pre‑incorporation acts and corporate ratification as applied to Philippines corporate law.
DEF Corp's by-laws require board approval for transfers of shares to persons not already shareholders. Shareholder L contracts to sell 1,200 shares to outsider M and endows the stock certificate to M. The board initially...
Citations: Revised Corporation Code (R.A. 11232)
...by founders A, B, and C who execute Articles of Incorporation and By-Laws and file them with the Securities and Exchange Commission for registration. Before a certificate of incorporation is issued, DSI holds a stockhol...
Citations: Revised Corporation Code of the Philippines (R.A. No. 11232)
EAGLECREST TEXTILE, INC. by-laws require board approval for transfers of shares to non-shareholders and provide that a transfer to a non-shareholder is void unless approved by the board; the stock transfer book must be u...
Citations: John Gokongwei, Jr. v. SEC (178 Phil. 266) - Supreme Court E-Library: https://elibrary.judiciary.gov.ph/assets/dtSearch/dtSearch_system_files/dtisapi6.dll?cmd=getdoc&stgd=yes&DocId=25355&request=special%20fact%20doctrine%20inside%20information%20directors%20stockholders%20capital&index=%2a4aeb4dbdcceeda9b59b85ae3fb22cec0&searchFlags=1249280&autoStopLimit=0&fuzziness=3&SearchForm=
In a Philippine corporation, the board passes an amendment to the by-laws restricting stockholders' right to inspect certain corporate records. The directors voted in favor after relying on advice from the company's coun...
Citations: John Gokongwei, Jr. v. SEC (178 Phil. 266) - Supreme Court E-Library: https://elibrary.judiciary.gov.ph/assets/dtSearch/dtSearch_system_files/dtisapi6.dll?cmd=getdoc&stgd=yes&DocId=25355&request=special%20fact%20doctrine%20inside%20information%20directors%20stockholders%20capital&index=%2a4aeb4dbdcceeda9b59b85ae3fb22cec0&searchFlags=1249280&autoStopLimit=0&fuzziness=3&SearchForm=
...curities and Exchange Commission, a stockholder challenged amended by-laws of San Miguel Corporation and sought access to corporate records, raising issues on stockholders’ rights to information and governance. Which sta...
Citations: John Gokongwei, Jr. v. SEC (178 Phil. 266) - Supreme Court E-Library: https://elibrary.judiciary.gov.ph/assets/dtSearch/dtSearch_system_files/dtisapi6.dll?cmd=getdoc&stgd=yes&DocId=25355&request=special%20fact%20doctrine%20inside%20information%20directors%20stockholders%20capital&index=%2a4aeb4dbdcceeda9b59b85ae3fb22cec0&searchFlags=1249280&autoStopLimit=0&fuzziness=3&SearchForm=
...curities and Exchange Commission, a stockholder challenged amended by-laws of San Miguel Corporation that restricted access to corporate records. Which statement best captures the central doctrine approved by the Supreme...
Citations: John Gokongwei, Jr. v. SEC (178 Phil. 266) - Supreme Court E-Library: https://elibrary.judiciary.gov.ph/assets/dtSearch/dtSearch_system_files/dtisapi6.dll?cmd=getdoc&stgd=yes&DocId=25355&request=special%20fact%20doctrine%20inside%20information%20directors%20stockholders%20capital&index=%2a4aeb4dbdcceeda9b59b85ae3fb22cec0&searchFlags=1249280&autoStopLimit=0&fuzziness=3&SearchForm=
...curities and Exchange Commission, a stockholder challenged amended by-laws of San Miguel Corporation that restricted access to corporate records and sought inspection of the books. The Supreme Court addressed the central...
Citations: John Gokongwei, Jr. v. SEC (178 Phil. 266) - Supreme Court E-Library: https://elibrary.judiciary.gov.ph/assets/dtSearch/dtSearch_system_files/dtisapi6.dll?cmd=getdoc&stgd=yes&DocId=25355&request=special%20fact%20doctrine%20inside%20information%20directors%20stockholders%20capital&index=%2a4aeb4dbdcceeda9b59b85ae3fb22cec0&searchFlags=1249280&autoStopLimit=0&fuzziness=3&SearchForm=
...curities and Exchange Commission, a stockholder challenged amended by-laws of San Miguel Corporation that restricted access to corporate records. The Supreme Court addressed the stockholder's right to inspect corporate b...
Citations: John Gokongwei, Jr. v. SEC (178 Phil. 266) - Supreme Court E-Library: https://elibrary.judiciary.gov.ph/assets/dtSearch/dtSearch_system_files/dtisapi6.dll?cmd=getdoc&stgd=yes&DocId=25355&request=special%20fact%20doctrine%20inside%20information%20directors%20stockholders%20capital&index=%2a4aeb4dbdcceeda9b59b85ae3fb22cec0&searchFlags=1249280&autoStopLimit=0&fuzziness=3&SearchForm=
...curities and Exchange Commission, a stockholder challenged amended by-laws of San Miguel Corporation that restricted his access to corporate records. (a) State the central doctrine articulated by the Supreme Court regard...
Citations: John Gokongwei, Jr. v. Securities and Exchange Commission, G.R. No. L-45911, 178 Phil. 266 (1979), (178 Phil. 266), John Gokongwei, Jr. v. SEC (178 Phil. 266) - Supreme Court E-Library: https://elibrary.judiciary.gov.ph/assets/dtSearch/dtSearch_system_files/dtisapi6.dll?cmd=getdoc&stgd=yes&DocId=25355&request=special%20fact%20doctrine%20inside%20information%20directors%20stockholders%20capital&index=%2a4aeb4dbdcceeda9b59b85ae3fb22cec0&searchFlags=1249280&autoStopLimit=0&fuzziness=3&SearchForm=
...curities and Exchange Commission, a stockholder challenged amended by-laws of San Miguel Corporation, contending that the board’s amendments curtailed his rights and altered essential governance without proper corporate...
Citations: John Gokongwei, Jr. v. SEC (178 Phil. 266) - Supreme Court E-Library: https://elibrary.judiciary.gov.ph/assets/dtSearch/dtSearch_system_files/dtisapi6.dll?cmd=getdoc&stgd=yes&DocId=25355&request=special%20fact%20doctrine%20inside%20information%20directors%20stockholders%20capital&index=%2a4aeb4dbdcceeda9b59b85ae3fb22cec0&searchFlags=1249280&autoStopLimit=0&fuzziness=3&SearchForm=
...G.R. No. L-45911, 1979) involved a stockholder challenging amended by-laws of San Miguel Corporation and seeking access to corporate records. In light of that decision, discuss the following as applied to a Philippine co...
Citations: John Gokongwei, Jr. v. Securities and Exchange Commission, G.R. No. L-45911, 178 Phil. 266 (1979), John Gokongwei, Jr. v. SEC (178 Phil. 266) - Supreme Court E-Library: https://elibrary.judiciary.gov.ph/assets/dtSearch/dtSearch_system_files/dtisapi6.dll?cmd=getdoc&stgd=yes&DocId=25355&request=special%20fact%20doctrine%20inside%20information%20directors%20stockholders%20capital&index=%2a4aeb4dbdcceeda9b59b85ae3fb22cec0&searchFlags=1249280&autoStopLimit=0&fuzziness=3&SearchForm=
...nd Exchange Commission involved a stockholder who attacked amended by-laws of San Miguel Corporation and sought access to corporate books and records. (a) State the controlling doctrine the Supreme Court applied regardin...
Citations: Gokongwei, Jr. v. Securities and Exchange Commission, G.R. No. L-45911, April 11, 1979, 178 Phil. 266, John Gokongwei, Jr. v. SEC (178 Phil. 266) - Supreme Court E-Library: https://elibrary.judiciary.gov.ph/assets/dtSearch/dtSearch_system_files/dtisapi6.dll?cmd=getdoc&stgd=yes&DocId=25355&request=special%20fact%20doctrine%20inside%20information%20directors%20stockholders%20capital&index=%2a4aeb4dbdcceeda9b59b85ae3fb22cec0&searchFlags=1249280&autoStopLimit=0&fuzziness=3&SearchForm=
Clara