A corporation generally cannot purchase its own shares because to do so would be violative of the “trust funds” doctrine. The capital stocks are deemed “trust funds” to be held unimpaired for the benefit of creditors and such would also mean that a stockholder...
OFW Forum Jun Concepcion As a tight lockdown or ECQ looms in Metro Manila from August 6, how will the national government feed its 14 million plus residents? Presented by the media with this blunt question last week, Budget Secretary Wendel Avisado and presidential spokesman Harry Roque were both...
OFW Forum Jun Concepcion When crisis struck in the family, with the life of an elder sibling in grave danger, Mary Deso-acido, 45, a single mother, did not dilly dally and immediately took action boldly. A domestic helper in Hong Kong for more than 15 years, she readily found a way to raise a...
THE VIEW FROM RIZAL Dr. Jun Ynares A few weeks ago, we wrote about the importance of “adaptability” – the ability to adjust to changes in the environment and circumstances. We echoed the view of experts that adaptability is the special quality seen among various species of creatures who have...
Corporations can sue only by and through the authority of its board of directors. The stockholders, who are the owners, by law and necessity, are deemed to have turned over the complete management of the enterprise to their representatives who are called directors. If these directors, by default,...
OFW Forum Jun Concepcion Janice de la Cruz, 36, a single mother, is getting set to leave the Philippines again for overseas work even if COVID-19 remains very much a health crisis across the world. After two consecutive “tours of duty” over six years as a domestic helper in Hong Kong, Janice is...
THE VIEW FROM RIZAL Dr. Jun Ynares “Who do you think would make for the most powerful political tandem in the 2022 presidential elections?” This has been one of the most frequently asked questions and most discussed topics in local government circles these days. It appears that, next to the...
OFW Forum Jun Concepcion Labor Secretary Silvestre Bello III announced on July 6 the temporary suspension of new workers to Saudi Arabia following recent sexual abuses of two Filipino women in that country. They came home last month, with “Michelle” two months pregnant with the child of one of...
THE VIEW FROM RIZAL Dr. Jun Ynares An author who was known for his intensive study of small businesses once said in a speech delivered before university students: “It is not the strongest who will survive, but the most adaptable.” This professor who went by the name of Leon C. Megginson was...
Ultra vires, as used in corporate law, is not synonymous with an act being null and void. It is a Latin phrase (“beyond the powers”) describing an act which requires legal authority but which is done without it (Wikipedia). The Revised Corporation Code (Sec. 44) describes it as an act performed...
OFW Forum Jun Concepcion How much does it cost every year to address and resolve maltreatment of Filipino women, mostly employed as domestic helpers, in the Middle East? More likely than not, this perplexing question will be glossed over by labor officials in favor of the multi-billion US dollars...
THE VIEW FROM RIZAL Dr. Jun Ynares “Has the political pot started to boil?” A colleague in the local government sector asked me that question last week when we met at the inauguration of the LRT Line 2 extension project. He said he felt that politics in the country “has started heating up,”...
