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Safeguards of the Maharlika Investment Fund

By Euney Marie Mata-Perez on September 7,2023 Republic Act (RA) No. 11954  established the Maharlika Investment Fund (MIF) to strengthen the investment activities of the country’s top-performing government financial institutions and promote economic growth and social development. It...

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MTF Updates – SEC MC No. 9-2023

Dear valued clients and friends, We are sending to you a copy of Securities and Exchange Commission Memorandum Circular (“SEC MC”) No. 9-2023 which further extends the deadline for amnesty application under SEC MC Nos. 2 and 6 until September 30, 2023. SEC MC No. 9 retained the prescribed amnesty...

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Election of directors and the holdover principle

By Nica Marsha Gasapo on June 22,2023 THE board of directors of a corporation is the seat of corporate power. Under the law, the board is clothed with authority to exercise the corporate powers, conduct all business and control all properties of the corporation. The election of the members of...

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The benefits of treasury shares

 By Euney Marie Mata-Perez on June 15,2023 THE outstanding capital stock of a corporation shall constitute a trust fund held by the corporation for the benefit of its creditors. It shall not be returned to the stockholders by repurchase of shares, except in the manner as provided for under...

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