Both the Securities Regulation Code and the Revised Corporation Code require the election of independent directors in specified instances...
As a measure of simple justice and ordinary fairness to them, therefore, reckoning just compensation on the value at the time the owners commenced these inverse condemnation proceedings is entirely warranted...
Generally where one corporation sells or otherwise transfers all of its assets to another corporation, the latter is not liable for the debts and liabilities of the transferor...
Applicability of Irrevocability Rule Under Section 76 of the Tax Code to Refund or Tax Credit Option
UPSI-MI constructively chose the option of carry-over, for which reason, the irrevocability rule forbade it to revert to its initial choice...
An LN is entirely different and serves a different purpose than an LOA. After an LN has served its purpose, the revenue officer should have properly secured an LOA before proceeding...
For VAT purposes, the gross receipts of an HMO do not include the amounts earmarked and actually spent for medical utilization of its members...
An individual stockholder may be permitted to institute a derivative suit in behalf of the corporation in order to protect or vindicate corporate rights whenever the officials of the corporation refuse to sue...
The separate personality of a corporation is merely a fiction of law created for convenience which may be pierced or disregarded to promote the ends of justice...
The Nell Doctrine states the general rule that the transfer of all the assets of a corporation to another shall not render the latter liable to the liabilities of the transferor...
The quarterly tax payments are advance payments of the tax due on the entire taxable income of that particular taxable year. Thus, these quarterly tax payments are deducted from the total tax due for the entire year as indicated in the final adjustment return...
The Supreme Court laid down in Saluday vs. People the guidelines in the conduct of bus searches. Whenever compliant with these guidelines, a routine inspection at the terminal or of the vehicle itself while in transit constitutes a reasonable search...
The letter of the law does not demand that the alien spouse should be the one who initiated the proceeding wherein the divorce decree...
The collection case instituted by creditor against the principal debtor and its surety may proceed despite a stay order...
The Supreme Court laid down the exceptions to the Nell Doctrine, in which instances, the transferee shall assume the liabilities of the transferor corporation...
Its marking of the box "To be refunded" in its 2005 annual ITR constituted its exercise of the option, and from then onwards Rhombus became precluded from carrying-over the excess creditable withholding tax...
All Covered Institutions are required to implement a 30-day grace period for all loans with principal and/or interest falling due within the Enhanced Community Quarantine Period (ECQ Period) without incurring interest on interest, penalties, fees and other charges...
Section 50 of the Corporation Code and the by-laws of GCI only require the sending/mailing of the notice of a stockholders' meeting to the stockholders of the corporation. Sending/mailing is different from filing or service under the Rules of Court...
The purpose of the business-enterprise transfer is to protect the creditors of the business by allowing them a remedy against the new owner...