What offense is committed by an executive officer who gives an order or suggestion to a judicial authority regarding a case under the courts’ exclusive jurisdiction?

Executive officer giving orders or suggestions to judicial authority regarding an exclusive court case is penalized.

What offense is committed by an executive officer who gives an order or suggestion to a judicial authority regarding a case under the courts’ exclusive jurisdiction? Read More »

What restrictions apply to an application for revival of corporate existence by financial intermediaries?

What restrictions apply to an application for revival of corporate existence by financial intermediaries? Certain financial intermediaries face stringent requirements when applying for the revival of their corporate existence after their term has expired (SEC. 11, Revised Corporation Code of the Philippines). Specifically, no application for revival of certificate of incorporation of banks, banking and

What restrictions apply to an application for revival of corporate existence by financial intermediaries? Read More »

What two specific reports, in addition to the standard annual financial statement and GIS, must corporations vested with public interest submit?

What two specific reports, in addition to the standard annual financial statement and GIS, must corporations vested with public interest submit? Corporations vested with public interest are subject to heightened reporting requirements beyond the general annual financial statements and general information sheet (SEC. 177, Revised Corporation Code of the Philippines). These entities must submit a

What two specific reports, in addition to the standard annual financial statement and GIS, must corporations vested with public interest submit? Read More »

How may the SEC compel a stockholder or member to call a meeting if the authorized person unjustly refuses?

How may the SEC compel a stockholder or member to call a meeting if the authorized person unjustly refuses? Whenever there is no person authorized to call a meeting, or the authorized person unjustly refuses to call one for any cause, the SEC may intervene (SEC. 129, Revised Corporation Code of the Philippines). Upon a

How may the SEC compel a stockholder or member to call a meeting if the authorized person unjustly refuses? Read More »

What documentation must the articles of merger or consolidation include regarding the financial status of the constituent companies?

What documentation must the articles of merger or consolidation include regarding the financial status of the constituent companies? The articles of merger or consolidation, executed after stockholder approval, must include specific financial and accounting details for each constituent corporation (SEC. 77, Revised Corporation Code of the Philippines). These articles must set forth the carrying amounts

What documentation must the articles of merger or consolidation include regarding the financial status of the constituent companies? Read More »