Revised Busorg2 Outline No. 6 (2015)
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REVISED BUSORG2 OUTLINE NO. 6 --- Additions are in RED ink Prof. M.I.P. Romero Xl. PRE-EMPTIVE RIGHT – Sec. 39 and 102 Xll. JURISDICTION: 1) A.M. No.00-8-10-SC (Interim Rules of Proc. for Intra-corp. Matters) 2) Securities Regulation Code (Sec. 5.2) 3) a) Relationship Test b) Nature of Controversy test Strategic Alliance vs. Star Infrastructure (GR 187872; 11/17/2010) Real v. Sangu Phils. (G.R. 168757; 1/19/ 2011) Medical Plaza v. Cullen ( G.R. 181416; 11/11/ 2013) Xlll. CORPORATE POWERS 1) Express, Implied, Inherent - Sections 36 to 45 2) Ultra Vires Doctrine --- Sec. 45; Legal Consequences RP v. Acoje Mining (1963) 7 SCRA 631 National Power Corp. v. Vera (1989) 170 SCRA 721 Govt. of the P.I. v. El Hogar Filipino 50 Phil. 399 Pirovano, et al v. De la Rama (1954) 96 Phil. 335
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Transcript of Revised Busorg2 Outline No. 6 (2015)
REVISED BUSORG2 OUTLINE NO. 6 --- Additions are in RED ink Prof. M.I.P. Romero
Xl. PRE-EMPTIVE RIGHT Sec. 39 and 102
Xll. JURISDICTION: 1) A.M. No.00-8-10-SC (Interim Rules of Proc. for Intra-corp. Matters) 2) Securities Regulation Code (Sec. 5.2) 3) a) Relationship Test b) Nature of Controversy test Strategic Alliance vs. Star Infrastructure (GR 187872; 11/17/2010) Real v. Sangu Phils. (G.R. 168757; 1/19/ 2011) Medical Plaza v. Cullen (G.R. 181416; 11/11/ 2013)
Xlll. CORPORATE POWERS
1. Express, Implied, Inherent - Sections 36 to 45 2) Ultra Vires Doctrine --- Sec. 45; Legal Consequences
RP v. Acoje Mining (1963) 7 SCRA 631 National Power Corp. v. Vera (1989) 170 SCRA 721 Govt. of the P.I. v. El Hogar Filipino 50 Phil. 399 Pirovano, et al v. De la Rama (1954) 96 Phil. 335 Harden, et al v. Benguet (1933) 58 Phil. 141 Bissel v. Michigan Southern 22 NY 258; 1860 Benito v. SEC 123 SCRA 732 (1993) In the light of Sec. 39, is this still a sound doctrine?
XIV. CONTROL & MANAGEMENT
1. Board of Directors/Trustees a) Sections 23, 27 (qualifications/disqualifications) Ramirez v. Orientalist Co. & Fernandez 38 Phil 634 Expert Travel & Tours, Inc v. CA 459 SCRA 147 Citibank NA v. Chua 220 SCRA 75 Boyer-Roxas v. CA 211 SCRA 470
b) Non-stock corp. Sec. 92 c) Close corp. - Secs. 97 (par.1, no.2), 97 (par.2), Sec.104 --provisional director
d) Special corporations Educational --- Sec. 108 Religious Sec. 110-113, Sec. 116 (6) e) Meetings Sec. 25, 49, 53, 54 Close corp. Sec. 97(3), 101 f) Elections - Sec. 24, 26, 27 -- Stock Corp. vs. Non-stock Corp. -- Straight Voting vs. Cumulative Voting Removal Sec. 28 Vacancy Sec. 29 Secs. 111(4) and 114 on corp. sole Valle Verde CC v. Africa GR 151969 (Sept. 4, 2009) 1. Officers Sec. 25, 92 (par. 3), 97 (last par.), 26, 27, 31, 32
Yu Chuck v. Kong Li Po 46 Phil 608 Woodchild Holdings v. Roxas Electric 436 SCRA 235 Bd. Of Liquidators v. Heirs of Kalaw 20 SCRA 987 Zamboanga Transpo. V. Bachrach Motors 52 Phil 244 Matling Industrial Corp. v. Coros (Oct 13, 2010) Real v. Sangu Phils. (G.R. No. 168757; 1/19/ 2011)
1. Board Committees/Executive Committee - Sec. 35 Hayes v. Canada Atlantic & Plant S.S. Co., Ltd. (1910) US Circuit CA, First Circuit 181 F. 289 Filipinas Port Services, Inc. v. Go 518 SCRA 453 (2007)
1. Stockholders
a) Sec. 23 and other provisions requiring SHs action b) Meetings Sec. 49, 50, 51, 52, 54, 55, 56, 57, 93 Tan v. Sycip G.R. 153468 (Aug.17, 2006) c) Deadlocks in close corps Sec. 104; provisional director
5) Members Sec. 89
