corporate lawyer

What is the penalty for a corporation that engages in fraudulent conduct of business?

Legal Answers /

What is the penalty for a corporation that engages in fraudulent conduct of business? A corporation that conducts its business through fraud shall be punished with a fine ranging from Two hundred thousand pesos (P200,000.00) to Two million pesos (P2,000,000.00) (SEC. 165, Revised Corporation Code of the Philippines). If the fraudulent business conduct is found […]

What is the penalty for a corporation that engages in fraudulent conduct of business? Read More »

What constitutes prima facie evidence of corporate liability when the corporation is used for graft and corrupt practices?

Legal Answers /

What constitutes prima facie evidence of corporate liability when the corporation is used for graft and corrupt practices? A corporation used for fraud or for committing or concealing graft and corrupt practices shall be liable for a fine ranging from One hundred thousand pesos (P100,000.00) to Five million pesos (P5,000,000.00) (SEC. 166, Revised Corporation Code

What constitutes prima facie evidence of corporate liability when the corporation is used for graft and corrupt practices? Read More »

What is the penalty imposed on a director, trustee, or officer who knowingly tolerates graft and corrupt practices?

Legal Answers /

What is the penalty imposed on a director, trustee, or officer who knowingly tolerates graft and corrupt practices? A director, trustee, or officer who knowingly fails to sanction, report, or file the appropriate action with proper agencies, or who allows or tolerates graft and corrupt practices committed by corporate personnel, shall be punished (SEC. 168,

What is the penalty imposed on a director, trustee, or officer who knowingly tolerates graft and corrupt practices? Read More »

What is the penalty for retaliation against a whistleblower under the Code?

Legal Answers /

What is the penalty for retaliation against a whistleblower under the Code? A whistleblower is defined as any person who provides truthful information relating to the SEC or possible SEC of any offense or violation under this Code (SEC. 169, Revised Corporation Code of the Philippines). Any person who, knowingly and with intent to retaliate,

What is the penalty for retaliation against a whistleblower under the Code? Read More »

What is the punishment for violations of the Code that are not specifically penalized elsewhere?

Legal Answers /

What is the punishment for violations of the Code that are not specifically penalized elsewhere? Violations of any of the other provisions of this Code or its amendments that are not otherwise specifically penalized shall be punished by a fine of not less than Ten thousand pesos (P10,000.00) but not more than One million pesos

What is the punishment for violations of the Code that are not specifically penalized elsewhere? Read More »

How is the penalty in the Revised Corporation Code imposed if the offender of a violation is a corporation?

Legal Answers /

How is the penalty in the Revised Corporation Code imposed if the offender of a violation is a corporation? If the offender of a violation is a corporation, the penalty may be imposed upon the corporation itself and/or upon its responsible personnel (SEC. 171, Revised Corporation Code of the Philippines). At the discretion of the

How is the penalty in the Revised Corporation Code imposed if the offender of a violation is a corporation? Read More »

How are aiders and abettors penalized for violating the Revised Corporation Code?

Legal Answers /

How are aiders and abettors penalized for violating the Revised Corporation Code? Anyone who shall aid, abet, counsel, command, induce, or cause any violation of this Code, or any rule, regulation, or order of the SEC, shall face a penalty (SEC. 172, Revised Corporation Code of the Philippines). The punishment imposed upon these secondary actors

How are aiders and abettors penalized for violating the Revised Corporation Code? Read More »

How is the term “outstanding capital stock” defined under the Revised Corporation Code?

Legal Answers /

How is the term “outstanding capital stock” defined under the Revised Corporation Code? The term “outstanding capital stock” is defined as the total shares of stock issued under binding subscription contracts to subscribers or stockholders (SEC. 173, Revised Corporation Code of the Philippines). This total includes shares whether they are fully paid or only partially

How is the term “outstanding capital stock” defined under the Revised Corporation Code? Read More »

What alternate name designations are permitted for the governing boards of nonstock or special corporations?

Legal Answers /

What alternate name designations are permitted for the governing boards of nonstock or special corporations? Notwithstanding specific provisions of the Code that reference “board of directors” or “board of trustees,” nonstock or special corporations are permitted to use alternate names for their governing boards (SEC. 174, Revised Corporation Code of the Philippines). These corporations may,

What alternate name designations are permitted for the governing boards of nonstock or special corporations? Read More »

What conditions must a foreign corporation meet regarding its home country’s laws to be eligible to transact business in the Philippines?

Legal Answers /

What conditions must a foreign corporation meet regarding its home country’s laws to be eligible to transact business in the Philippines? A foreign corporation is defined as one formed, organized, or existing under laws other than those of the Philippines (SEC. 140, Revised Corporation Code of the Philippines). Crucially, its laws must allow Filipino citizens

What conditions must a foreign corporation meet regarding its home country’s laws to be eligible to transact business in the Philippines? Read More »

Contact us Now!

CONTACT FORM

    ABOUT THE FIRM

    A full-service law firm dedicated to delivering a broad range of quality legal services which large firms are able to deliver but with the personal touch which only small firms can provide. We are located at the bustling Ortigas Central Business District in Pasig City, Metro Manila, Philippines.

    CONTACT US

    OUR PRACTICE AREAS

    OFFICE HOURS

    • Monday 8:30AM - 5:30PM
    • Tuesday 8:30AM - 5:30PM
    • Wednesday 8:30AM - 5:30PM
    • Thursday 8:30AM - 5:30PM
    • Friday 8:30AM - 5:30PM
    • Saturday Closed - Closed
    • Sunday Closed - Closed