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June 23, 1981: Dee filed a petition for certiorari/appeal with the
SEC en banc
ISSUES:
W/N SEC has the power and jurisdiction to declare null and void shares of
1.
DEE vs SEC
FACTS:
DEE vs SEC
FACTS:
capital stock of Natelco was divided into 213K CS and 87K PS, both
at a par value of P10/shares
April 12, 1977: Without no prior authorization from the BOC
(now National Telecommunications Commission) (NTC), Natelco entered
into a contract with Communication Services, Inc. (CSI) for the
"manufacture, supply, delivery and installation" of telephone
equipment
Natelco issued 24K shares of CS to CSI as downpayment
May 5, 1979: issued another 12K shares of CS to CSI
May 19, 1979: annual stockholders' meeting to elect their 7
directors to their BOD for the year 1979-1980
Pedro Lopez Dee (Dee) was unseated as Chairman of the Board
and President but was elected as one of the directors, together with his
wife, Amelia Lopez Dee
CSI was able to gain control when their legal counsel, Atty.
Luciano Maggay (Maggay) won a seat in the Board
Atty. Maggay became president upon reorganization
DEE vs SEC
FACTS:
DEE vs SEC
FACTS:
DEE vs SEC
FACTS:
DEE vs SEC
FACTS:
the approval of the increased authorized capital with the then Board of
Communications (BOC)
Pedro Lopez Dee (Dee) was unseated as Chairman of the Board and
President but was elected as one of the directors, together with his
wife, Amelia Lopez Dee
CSI was able to gain control when their legal counsel, Atty. Luciano
Maggay (Maggay) won a seat in the Board
Pedro Lopez Dee (Dee) was unseated as Chairman of the Board and
President but was elected as one of the directors, together with his
wife, Amelia Lopez Dee
CSI was able to gain control when their legal counsel, Atty. Luciano
Maggay (Maggay) won a seat in the Board
Pedro Lopez Dee (Dee) was unseated as Chairman of the Board and
President but was elected as one of the directors, together with his
wife, Amelia Lopez Dee
CSI was able to gain control when their legal counsel, Atty. Luciano
Maggay (Maggay) won a seat in the Board
Pedro Lopez Dee (Dee) was unseated as Chairman of the Board and
President but was elected as one of the directors, together with his
wife, Amelia Lopez Dee
CSI was able to gain control when their legal counsel, Atty. Luciano
Maggay (Maggay) won a seat in the Board
Pedro Lopez Dee (Dee) was unseated as Chairman of the Board and
President but was elected as one of the directors, together with his
wife, Amelia Lopez Dee
CSI was able to gain control when their legal counsel, Atty. Luciano
Maggay (Maggay) won a seat in the Board
Pedro Lopez Dee (Dee) was unseated as Chairman of the Board and
President but was elected as one of the directors, together with his
wife, Amelia Lopez Dee
CSI was able to gain control when their legal counsel, Atty. Luciano
Maggay (Maggay) won a seat in the Board
Pedro Lopez Dee (Dee) was unseated as Chairman of the Board and
President but was elected as one of the directors, together with his
wife, Amelia Lopez Dee
CSI was able to gain control when their legal counsel, Atty. Luciano
Maggay (Maggay) won a seat in the Board
Pedro Lopez Dee (Dee) was unseated as Chairman of the Board and
President but was elected as one of the directors, together with his
wife, Amelia Lopez Dee
CSI was able to gain control when their legal counsel, Atty. Luciano
Maggay (Maggay) won a seat in the Board