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What is Stockholder Rights and Valuation Dispute about?
The Supreme Court ruled that a corporation can only purchase its own shares if it has unrestricted retained earnings to cover the purchase based on Section 41 of the Corporation Code. It also ruled that no payment shall be made to dissenting shareholders unless the corporation has sufficient unrestricted retained earnings. Additionally, the Court affirmed the trust fund doctrine which protects corporate assets for creditors, preventing distribution of assets to shareholders if debts remain unpaid.
- Author
- carlo dumlao
- Language
- EN