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Filipinas Port Services, Inc. vs. Go/ESCRA
Filipinas Port Services, Inc. vs. Go/ESCRA
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* FIRST DIVISION.
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injured party, its power to sue is lodged with its board of directors or
trustees.·Under the Corporation Code, where a corporation is an
injured party, its power to sue is lodged with its board of directors
or trustees. But an individual stockholder may be permitted to
institute a derivative suit in behalf of the corporation in order to
protect or vindicate corporate rights whenever the officials of the
corporation refuse to sue, or when a demand upon them to file the
necessary
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GARCIA, J.:
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6 Supra at note 1.
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16 H. de Leon, The Corporation Code of the Phils., 2002 ed., pp. 310-
311.
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19 Garcia v. De Vera, A.C. No. 6052, December 11, 2003, 418 SCRA 27.
20 Pastor v. Philippine National Bank, G.R. No. 141316, November 20,
2003, 416 SCRA 283.
21 Supra.
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corporation.
This brings us to the respondentsÊ claim that the case
filed by the petitioners before the SEC, which eventually
landed in
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22 Chua v. Court of Appeals, G.R. No. 150793, November 19, 2004, 443
SCRA 259, 267.
23 Asset Privatization Trust v. Court of Appeals, 360 Phil. 768, 804-805;
300 SCRA 579, 614 (1998).
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