Practice question
A corporate creditor proves entitlement to reach an unpaid subscription. The debt is PHP1,000,000 and the defendant’s unpaid subscription is PHP150,000. Explain the principal measure and why a simple shareholding percentage is not a substitute.
Legal references
- Halley v. Printwell, GR157549, May30 2011, main opinion: https://lawphil.net/judjuris/juri2011/may2011/gr_157549_2011.html Payment proof and limit of unpaid-subscription recovery.
- Enano-Bote v. Alvarez, GR223572, November10 2020, main opinion: https://lawphil.net/judjuris/juri2020/nov2020/gr_223572_2020.html Recognized grounds for creditor recourse.
Answer this question in flashcards to review your response and continue practicing.