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James Mci. Henderson Vs. Bienvenido A. Tan, Et Al. 087 Phil 466

JAMES MCI. HENDERSON, Philippine Alien Property Administrator, and THE NATIONAL RUBBER GOODS MANUFACTURING CO., INC., petitioners, vs. BIENVENIDO A. TAN, Judge of the Court of First Instance of Rizal, Rizal City Branch, and JOSEPH ARCACHE, respondents.

G.R. No. L-3223 | 1950-10-10

D E C I S I O N


REYES, J.:

The National Rubber Goods Manufacturing Company, Inc. is a Philippine corporation with a capital stock of P1,000,000 divided into shares of the par value of P100 each. As 4,619 of those shares were Japanese-owned, the Philippine Alien Property Administrator, as the official designated by the President of the United States to hold and administer enemy properties located in the Philippines, took title to the said shares by virtue of Vesting Order No. P-62 issued on March 20, 1947, and having thereby become the owner of 72 percent of the subscribed capital stock of the company, also undertook the management and...