You are on page 1of 1

MARVEL BLDG. CORP. V. DAVID (94 Phil.

376; 1954)

The fact that:

·

certificates in possession of Castro were endorsed in blank;

·

Castro had enormous profits and had motive to hide them;

·

other subscribers had no incomes of sufficient magnitude; and

·

directors never met;

shows that other shareholders may be considered dummies of Castro. Hence,
corporate veil may be pierced.