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  • Heirs of Fe Tan Uy vs. IEB

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    Louise Dagatan
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    The document discusses the requirements for holding a director or officer of a corporation personally liable for corporate obligations. Specifically, it states that for a director or officer to be held liable, the following must be met: (1) the complainant must allege in their complaint that the director or officer agreed to openly unlawful acts of the corporation or that the officer was grossly negligent or acted in bad faith; and (2) the complainant must clearly and convincingly prove such unlawful acts, negligence or bad faith.

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    Mercantile law case digest

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    The document discusses the requirements for holding a director or officer of a corporation personally liable for corporate obligations. Specifically, it states that for a director or officer to be held liable, the following must be met: (1) the complainant must allege in their complaint that the director or officer agreed to openly unlawful acts of the corporation or that the officer was grossly negligent or acted in bad faith; and (2) the complainant must clearly and convincingly prove such unlawful acts, negligence or bad faith.

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
    Flag for inappropriate content
    51 views1 page

    Heirs of Fe Tan Uy vs. IEB

    Uploaded by

    Louise Dagatan
    The document discusses the requirements for holding a director or officer of a corporation personally liable for corporate obligations. Specifically, it states that for a director or officer to be held liable, the following must be met: (1) the complainant must allege in their complaint that the director or officer agreed to openly unlawful acts of the corporation or that the officer was grossly negligent or acted in bad faith; and (2) the complainant must clearly and convincingly prove such unlawful acts, negligence or bad faith.

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
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    of 1

    G.R. No.

    166282 February 13, 2013

    HEIRS OF FE TAN UY (Represented by her heir, Mauling Uy Lim),


    Petitioners, vs.
    INTERNATIONAL EXCHANGE BANK, Respondent.

    Before a director or officer of a corporation can be held personally liable for


    corporate obligations, however, the following requisites must concur: (1) the
    complainant must allege in the complaint that the director or officer assented
    to patently unlawful acts of the corporation, or that the officer was guilty of
    gross negligence or bad faith; and (2) the complainant must clearly and
    convincingly prove such unlawful acts, negligence or bad faith.

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