Learn the Philippine rules on decreasing authorized capital stock, SEC approval requirements, and the trust fund doctrine protecting creditors.
Legal Requirements for Decreasing Authorized Capital Stock in the Philippines Read More »
Learn SEC requirements to increase authorized capital stock, including Treasurer’s Affidavit, SEC approval, audit documents, and common DST issues.
Increasing Authorized Capital Stock in the Philippines Read More »
What is the final step for a merger or consolidation to become legally effective? The articles of merger or consolidation, after being signed and certified by the constituent corporations, must be submitted to the SEC for its approval (SEC. 78, Revised Corporation Code of the Philippines). If the corporations involved are special corporations (such as
What is the final step for a merger or consolidation to become legally effective? Read More »
When consideration for stocks is other than cash, who determines the valuation, and whose approval is required? Where the consideration for the issuance of stock is something other than actual cash, such as property, or consists of intangible property like patents or copyrights, the initial valuation thereof is determined by the stockholders or the board
Under what conditions may a corporation whose term has expired apply for revival? A corporation whose specific term has expired may apply for the revival of its corporate existence, subject to fulfilling existing duties, debts, and liabilities prior to revival (SEC. 11, Revised Corporation Code of the Philippines). Upon the SEC’s approval, the corporation is
Under what conditions may a corporation whose term has expired apply for revival? Read More »
