This case has been cited 2 times or more.
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2015-07-01 |
PEREZ, J. |
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| The Cinco Group cannot invoke the application of de facto officership doctrine to justify the actions taken after the invalid election since the operation of the principle is limited to third persons who were originally not part of the corporation but became such by reason of voting of government- sequestered shares.[33] In Cojuangco v. Roxas,[34] the Court deemed the directors who were elected through the voting of government of sequestered shares who assumed office in good faith as de facto officers, viz: In the light of the foregoing discussion, the Court finds and so holds that the PCGG has no right to vote the sequestered shares of petitioners including the sequestered corporate shares. Only their owners, duly authorized representatives or proxies may vote the said shares. Consequently, the election of private respondents Adolfo Azcuna, Edison Coseteng and Patricio Pineda as members of the board of directors of SMC for 1990-1991 should be set aside. | |||||
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2001-12-14 |
PANGANIBAN, J. |
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| From the foregoing general principle, the Court in Baseco v. PCGG[29] (hereinafter "Baseco") and Cojuangco Jr. v. Roxas[30] ("Cojuangco-Roxas") has provided two clear "public character" exceptions under which the government is granted the authority to vote the shares: (1) Where government shares are taken over by private persons or entities who/which registered them in their own names, and | |||||