Scribd Logo
Загрузить

Добро пожаловать в Scribd!

  • Rene Knecht and Knecht Inc v. UCP

    Загружено:

    CheChe
    483 просмотров1 страница
    This case involves a land dispute between two corporations that were both subsequently dissolved. The Court ruled in favor of United Cigarette Corp. (UCC) years prior, but UCC sought to enforce the decision over 10 years later. The petitioners claimed the decision could no longer be enforced as both corporations had dissolved. The Court held that under Section 145 of the Corporation Code, a dissolved corporation still has legal personality to enforce a final decision beyond the typical three-year winding up period, as UCC's suit necessarily prolonged that period for itself. Thus, UCC could still enforce the judgment through its trustee, for the benefit of its stockholders and creditors.

    Исходное описание:

    Case Digest in Corporation Law

    Авторское право

    © © All Rights Reserved

    Доступные форматы

    DOCX, PDF, TXT или читайте онлайн в Scribd

    Этот документ был вам полезен?

    Это неприемлемый материал?

    Пожаловаться на этот документ
    This case involves a land dispute between two corporations that were both subsequently dissolved. The Court ruled in favor of United Cigarette Corp. (UCC) years prior, but UCC sought to enforce the decision over 10 years later. The petitioners claimed the decision could no longer be enforced as both corporations had dissolved. The Court held that under Section 145 of the Corporation Code, a dissolved corporation still has legal personality to enforce a final decision beyond the typical three-year winding up period, as UCC's suit necessarily prolonged that period for itself. Thus, UCC could still enforce the judgment through its trustee, for the benefit of its stockholders and creditors.

    Авторское право:

    © All Rights Reserved
    Скачайте в формате DOCX, PDF, TXT или читайте онлайн в Scribd
    Отметить как неприемлемый контент
    483 просмотров1 страница

    Rene Knecht and Knecht Inc v. UCP

    Загружено:

    CheChe
    This case involves a land dispute between two corporations that were both subsequently dissolved. The Court ruled in favor of United Cigarette Corp. (UCC) years prior, but UCC sought to enforce the decision over 10 years later. The petitioners claimed the decision could no longer be enforced as both corporations had dissolved. The Court held that under Section 145 of the Corporation Code, a dissolved corporation still has legal personality to enforce a final decision beyond the typical three-year winding up period, as UCC's suit necessarily prolonged that period for itself. Thus, UCC could still enforce the judgment through its trustee, for the benefit of its stockholders and creditors.

    Авторское право:

    © All Rights Reserved
    Скачайте в формате DOCX, PDF, TXT или читайте онлайн в Scribd
    Отметить как неприемлемый контент
    из 1

    Rene Knecht and Knecht Inc.

    v.
    United Cigarettere Corp.
    G.R. No. 139370
    July 4, 2002

    Facts:

    This case involves a land dispute between two corporations that were both subsequently
    dissolved due to expiration of corporate life, while the case was pending. A decision was arrived
    at in favor of the respondent, United Cigarette Corp. (UCC), which became final and executory,
    to which the latter sought enforcement of the decision approximately ten (10) years after it was
    rendered. This was greatly opposed by the petitioners claiming that the same has already
    prescribed, and that UCC can no longer enforce the judgment since it was dissolved years ago.
    The Court of Appeals ruled in favor of UCC, and held that the three-year period given to
    corporations after its liquidation may be extended under certain circumstances where, as here,
    the suit filed by UCC necessarily prolonged that period. Hence, this petition.

    Issue: Whether or not a dissolved corporation still has personality to enforce a decision beyond
    the three-year winding up period after it was dissolved.

    Ruling: Yes.

    In a case, this Court held that: the trustee (of a dissolved corporation) may commence a
    suit which can proceed to final judgment even beyond the three-year period of liquidation. There
    is therefore no reason can be conceived why a suit already commenced by the corporation itself
    during its existence, not by a mere trustee who, by fiction, merely continues the legal personality
    of the dissolved corporation, should not be accorded similar treatment to proceed to final
    judgment and execution thereof. The rights of a corporation (dissolved pending litigation) are
    accorded protection by law as found in Section 145 of the Corporation Code. Given this, the
    dissolution of UCC itself, or the expiration of its three-year liquidation period, should not be a bar
    to the enforcement of its rights as a corporation. One of these rights, to be sure, includes the
    UCCs right to seek from the court the execution of a valid and final judgment in Civil Case No.
    9165 through its trustee/liquidator Encarnacion Gonzales Wong for the benefit of its
    stockholders, creditors and any other person who may have legal claims against it; for to hold
    otherwise would be to allow petitioners to unjustly enrich themselves at the expense of UCC.

    Вам также может понравиться