This case has been cited 4 times or more.
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2016-01-20 |
LEONEN, J. |
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| Villamor v. Umale[82] distinguished individual suits from class or representative suits: Individual suits are filed when the cause of action belongs to the individual stockholder personally, and not to the stockholders as a group or to the corporation, e.g., denial of right to inspection and denial of dividends to a stockholder. If the cause of action belongs to a group of stockholders, such as when the rights violated belong to preferred stockholders, a class or representative suit may be filed to protect the stockholders in the group.[83] | |||||
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2016-01-20 |
LEONEN, J. |
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| Moreover, it is important that the corporation be made a party to the case.[94] (Citations omitted) | |||||
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2016-01-20 |
LEONEN, J. |
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| The remedies that the Marcelino, Jr. Group seeks are for People's Broadcasting itself to avail. Ordinarily, these reliefs may be unavailing because objecting stockholders such as those in the Marcelino, Jr. Group do not hold the controlling interest in People's Broadcasting. This is precisely the situation that the rule permitting derivative suits contemplates: minority shareholders having no other recourse "whenever the directors or officers of the corporation refuse to sue to vindicate the rights of the corporation or are the ones to be sued and are in control of the corporation."[124] | |||||
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2016-01-11 |
LEONEN, J. |
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| At the outset, we must state that BCDA and Northrail invoked the correct remedy. Rule 45 is applicable when the issues raised before this court involved purely questions of law. In Villamor v. Balmores:[73] | |||||