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CORPORATION LAW
Atty. R. I. Gatchalian

Assignment for Sept. 29 & Oct. 3, 2014

I. CORPORATE DISSOLUTIONS AND LIQUIDATIONS

1. Methods of Dissolution

(a) Sec. 117, Corp. Code
(b) Voluntary Dissolution Where No Creditors Are Affected

(1) Sec. 118, Corp. Code

(c) Voluntary Dissolution Where Creditors Are Affected

(1) Sec. 119, Corp. Code

(d) Dissolution by Shortening of Corporate Term

(1) Sec. 120, Corp. Code

(e) Dissolution by Expiration of Corporate Term

(1) Sec. 11, Corp. Code
(2) Alhambra Cigar and Cigarette Mfg. Corp. vs. SEC, 24 SCRA 269
(1968)

(f) Involuntary Dissolution

(1) Sec. 121, Corp. Code
(2) Grounds for Involuntary Dissolution

i. pp. 677-78, Phil. Corporate Law, Villanueva, C., 2001 Ed.

(3) SEC Rules on Suspension/Revocation of the Certificate of Registration
of Corporations
(4) Republic vs. Bisaya Land Transportation Co., 81 SCRA 9 (1978)
(5) Republic vs. Security Credit & Acceptance Corp., 19 SCRA 58, (1967)

2. Nature of Corporate Liquidation

(a) Chua vs. NLRC, 190 SCRA 558 (1990)

3. Methods of Liquidation

(a) Liquidation Through Board of Directors or Trustees

(1) Sec. 122, Corp. Code

(b) Liquidation Through a Trustee

(1) Sec. 122, Corp. Code
(2) Gelano vs. CA, 103 SCRA 90 (1981)
(3) Clemente vs. CA, 242 SCRA 717 (1995)

(c) Liquidation Through a Receiver

(1) Sec. 6, PD 902-A

4. Effects of Dissolution and Liquidation

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(a) No Authority to Enter into New Business

(1) Buenaflor vs. Camarines Sur Industry Corp., 108 Phil. 472 (1960)


II. CLOSE CORPORATIONS

1. Statutory Definition

(a) Sec. 96, Corp. Code

2. Classification of Shares and Restrictions of Transfer

(a) Sec. 97 (1), Corp. Code
(b) Sec. 98, Corp. Code

3. Classification of Directors

(a) Sec. 97 (2), Corp. Code

4. Greater Quorum or Voting Requirements

(a) Sec. 97 (3), Corp. Code

5. Stockholders as Corporate Managers

(a) Sec. 97, Corp. Code
(b) Agreements Among Stockholders

(1) Sec. 100, Corp. Code

(c) Board Meetings Unnecessary

(1) Sec. 101, Corp. Code

6. Pre-Emptive Rights

(a) Sec. 102, Corp. Code

7. Deadlocks and Dissolution

(a) Sec. 104, Corp. Code
(b) Sec. 105, Corp. Code