Practice question
An insolvent corporation has unpaid subscriptions and cannot satisfy a proved creditor claim. The creditor establishes the applicable doctrinal conditions and seeks the unpaid amount. Does separate personality alone necessarily bar the claim?
- No; the doctrine can permit reaching unpaid subscriptions under those established conditions.
- Yes, unpaid subscriptions are always immune.
- Yes, insolvency eliminates every creditor right.
- Yes, subscribers can always cancel unpaid balances.
- Yes, only the corporate name matters.
Legal references
- Halley v. Printwell, GR157549, May30 2011, main decision: https://lawphil.net/judjuris/juri2011/may2011/gr_157549_2011.html
- Enano-Bote v. Alvarez, GR223572, November10 2020, main decision: https://lawphil.net/judjuris/juri2020/nov2020/gr_223572_2020.html
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