Escolar Documentos
Profissional Documentos
Cultura Documentos
September 17, 1982: CSI group filed a petition for certiorari and
prohibition with preliminary injunction or restraining order against the CFI
April 14, 1983: IAC: Annuling contempt charge
ISSUES:
1.
W/N SEC has the power and jurisdiction to declare null and void shares of
NO
within the jurisdiction of the lower court as it does not involve an intracorporate matter but merely a claim of a private party of the right to
repurchase common shares of stock of Natelco and that the restraining
order was not meant to stop the election duly called for by the SEC and a
matter purely within the exclusive jurisdiction of the SEC
temporary restraining order amounted to an injunctive relief against the
SEC
since the trial judge in the lower court did not have jurisdiction in
issuing the questioned restraining order, disobedience thereto did not
constitute contempt
DEE vs SEC
FACTS:
approval of the increased authorized capital with the then Board of Communications
(BOC)
That the issuance of the shares of stocks will be for a period of one
year from the date hereof, "after which no further issues will be made
without previous authority from this Board."
Natelco filed its Amended Articles of Incorporation with the SEC
the original authorized capital of P100K was already paid
increased capital of P2.9M the subscribers subscribed to P580K of
which P145K was fully paid
capital stock of Natelco was divided into 213K CS and 87K PS, both at a
par value of P10/shares
April 12, 1977: Without no prior authorization from the BOC
(now National Telecommunications Commission) (NTC), Natelco entered into
a contract with Communication Services, Inc. (CSI) for the "manufacture,
supply, delivery and installation" of telephone equipment
Natelco issued 24K shares of CS to CSI as downpayment
May 5, 1979: issued another 12K shares of CS to CSI
May 19, 1979: annual stockholders' meeting to elect their 7 directors to
their BOD for the year 1979-1980
Pedro Lopez Dee (Dee) was unseated as Chairman of the Board and
President but was elected as one of the directors, together with his wife,
Amelia Lopez Dee
CSI was able to gain control when their legal counsel, Atty. Luciano
Maggay (Maggay) won a seat in the Board
Atty. Maggay became president upon reorganization
DEE vs SEC
FACTS:
approval of the increased authorized capital with the then Board of Communications
(BOC)
That the issuance of the shares of stocks will be for a period of one
year from the date hereof, "after which no further issues will be made
without previous authority from this Board."
Natelco filed its Amended Articles of Incorporation with the SEC
the original authorized capital of P100K was already paid
increased capital of P2.9M the subscribers subscribed to P580K of
which P145K was fully paid
capital stock of Natelco was divided into 213K CS and 87K PS, both at a
par value of P10/shares
April 12, 1977: Without no prior authorization from the BOC
(now National Telecommunications Commission) (NTC), Natelco entered into
a contract with Communication Services, Inc. (CSI) for the "manufacture,
supply, delivery and installation" of telephone equipment
Natelco issued 24K shares of CS to CSI as downpayment
May 5, 1979: issued another 12K shares of CS to CSI
May 19, 1979: annual stockholders' meeting to elect their 7 directors to
their BOD for the year 1979-1980
Pedro Lopez Dee (Dee) was unseated as Chairman of the Board and
President but was elected as one of the directors, together with his wife,
Amelia Lopez Dee
CSI was able to gain control when their legal counsel, Atty. Luciano
Maggay (Maggay) won a seat in the Board
Atty. Maggay became president upon reorganization
DEE vs SEC
FACTS:
approval of the increased authorized capital with the then Board of Communications
(BOC)
That the issuance of the shares of stocks will be for a period of one
year from the date hereof, "after which no further issues will be made
without previous authority from this Board."
Natelco filed its Amended Articles of Incorporation with the SEC
the original authorized capital of P100K was already paid
increased capital of P2.9M the subscribers subscribed to P580K of
which P145K was fully paid
capital stock of Natelco was divided into 213K CS and 87K PS, both at a
par value of P10/shares
April 12, 1977: Without no prior authorization from the BOC
(now National Telecommunications Commission) (NTC), Natelco entered into
a contract with Communication Services, Inc. (CSI) for the "manufacture,
supply, delivery and installation" of telephone equipment
Natelco issued 24K shares of CS to CSI as downpayment
May 5, 1979: issued another 12K shares of CS to CSI
May 19, 1979: annual stockholders' meeting to elect their 7 directors to
their BOD for the year 1979-1980
Pedro Lopez Dee (Dee) was unseated as Chairman of the Board and
President but was elected as one of the directors, together with his wife,
Amelia Lopez Dee
CSI was able to gain control when their legal counsel, Atty. Luciano
Maggay (Maggay) won a seat in the Board
Atty. Maggay became president upon reorganization
DEE vs SEC
FACTS:
approval of the increased authorized capital with the then Board of Communications
(BOC)
That the issuance of the shares of stocks will be for a period of one
year from the date hereof, "after which no further issues will be made
without previous authority from this Board."
Natelco filed its Amended Articles of Incorporation with the SEC
the original authorized capital of P100K was already paid
increased capital of P2.9M the subscribers subscribed to P580K of
which P145K was fully paid
capital stock of Natelco was divided into 213K CS and 87K PS, both at a
par value of P10/shares
April 12, 1977: Without no prior authorization from the BOC
(now National Telecommunications Commission) (NTC), Natelco entered into
a contract with Communication Services, Inc. (CSI) for the "manufacture,
supply, delivery and installation" of telephone equipment
Natelco issued 24K shares of CS to CSI as downpayment
May 5, 1979: issued another 12K shares of CS to CSI
May 19, 1979: annual stockholders' meeting to elect their 7 directors to
their BOD for the year 1979-1980
Pedro Lopez Dee (Dee) was unseated as Chairman of the Board and
President but was elected as one of the directors, together with his wife,
Amelia Lopez Dee
CSI was able to gain control when their legal counsel, Atty. Luciano
Maggay (Maggay) won a seat in the Board
Atty. Maggay became president upon reorganization
DEE vs SEC
FACTS:
approval of the increased authorized capital with the then Board of Communications
(BOC)
That the issuance of the shares of stocks will be for a period of one
year from the date hereof, "after which no further issues will be made
without previous authority from this Board."
Natelco filed its Amended Articles of Incorporation with the SEC
the original authorized capital of P100K was already paid
increased capital of P2.9M the subscribers subscribed to P580K of
which P145K was fully paid
capital stock of Natelco was divided into 213K CS and 87K PS, both at a
par value of P10/shares
April 12, 1977: Without no prior authorization from the BOC
(now National Telecommunications Commission) (NTC), Natelco entered into
a contract with Communication Services, Inc. (CSI) for the "manufacture,
supply, delivery and installation" of telephone equipment
Natelco issued 24K shares of CS to CSI as downpayment
DEE vs SEC
FACTS:
approval of the increased authorized capital with the then Board of Communications
(BOC)
That the issuance of the shares of stocks will be for a period of one
year from the date hereof, "after which no further issues will be made
without previous authority from this Board."
Natelco filed its Amended Articles of Incorporation with the SEC
the original authorized capital of P100K was already paid
increased capital of P2.9M the subscribers subscribed to P580K of
which P145K was fully paid
capital stock of Natelco was divided into 213K CS and 87K PS, both at a
par value of P10/shares
April 12, 1977: Without no prior authorization from the BOC
(now National Telecommunications Commission) (NTC), Natelco entered into
a contract with Communication Services, Inc. (CSI) for the "manufacture,
supply, delivery and installation" of telephone equipment
Natelco issued 24K shares of CS to CSI as downpayment
May 5, 1979: issued another 12K shares of CS to CSI
May 19, 1979: annual stockholders' meeting to elect their 7 directors to
their BOD for the year 1979-1980
Pedro Lopez Dee (Dee) was unseated as Chairman of the Board and
President but was elected as one of the directors, together with his wife,
Amelia Lopez Dee
CSI was able to gain control when their legal counsel, Atty. Luciano Maggay
(Maggay) won a seat in the Board
Pedro Lopez Dee (Dee) was unseated as Chairman of the Board and
President but was elected as one of the directors, together with his wife,
Amelia Lopez Dee
CSI was able to gain control when their legal counsel, Atty. Luciano Maggay
(Maggay) won a seat in the Board
Pedro Lopez Dee (Dee) was unseated as Chairman of the Board and
President but was elected as one of the directors, together with his wife,
Amelia Lopez Dee
CSI was able to gain control when their legal counsel, Atty. Luciano Maggay
(Maggay) won a seat in the Board
Pedro Lopez Dee (Dee) was unseated as Chairman of the Board and
President but was elected as one of the directors, together with his wife,
Amelia Lopez Dee
CSI was able to gain control when their legal counsel, Atty. Luciano Maggay
(Maggay) won a seat in the Board
Pedro Lopez Dee (Dee) was unseated as Chairman of the Board and
President but was elected as one of the directors, together with his wife,
Amelia Lopez Dee
CSI was able to gain control when their legal counsel, Atty. Luciano Maggay
(Maggay) won a seat in the Board
Pedro Lopez Dee (Dee) was unseated as Chairman of the Board and
President but was elected as one of the directors, together with his wife,
Amelia Lopez Dee
CSI was able to gain control when their legal counsel, Atty. Luciano Maggay
(Maggay) won a seat in the Board
Pedro Lopez Dee (Dee) was unseated as Chairman of the Board and
President but was elected as one of the directors, together with his wife,
Amelia Lopez Dee
CSI was able to gain control when their legal counsel, Atty. Luciano Maggay
(Maggay) won a seat in the Board
Pedro Lopez Dee (Dee) was unseated as Chairman of the Board and
President but was elected as one of the directors, together with his wife,
Amelia Lopez Dee
CSI was able to gain control when their legal counsel, Atty. Luciano Maggay
(Maggay) won a seat in the Board