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Saverio vs Puyat: Corporate Veil Ruling by erickson romero is a document available to read on EtoBox.
The Supreme Court ruled that the lower courts were not justified in piercing the corporate veil of NSI. Puyat failed to prove that alter-ego elements were present to pierce the corporate veil. Specifically, the evidence presented did not support that NSI owed Puyat a balance of P460k from a memorandum of agreement signed by Nuccio on behalf of NSI. While Nuccio had 40% shareholdings in NSI, this alone is not enough to pierce the corporate veil, and the lower courts relied on insufficient reasons to do so. T
- Author
- erickson romero
- Language
- EN