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Gokongwei, Jr. vs. Securities and Exchange Commission, et al. [CONCURRING OPINION, DE CASTRO,J.]

JOHN GOKONGWEI, JR., petitioner vs. SECURITIES AND EXCHANGE COMMISSION, ANDRES M. SORIANO, JOSE M. SORIANO, ENRIQUE ZOBEL, ANTONIO ROXAS, EMETERIO BU?AO, WALTHRODE B. CONDE, MIGUEL ORTIGAS, ANTONIO PRIETO, SAN MIGUEL CORPORATION, EMIGDIO TANJUATCO, SR., [CONCURRING OPINION, DE CASTRO,J.]

G.R. No. L-45911 | 1979-04-11

DE CASTRO, J., concurring:

1. CORPORATION; STOCKHOLDERS; DISQUALIFICATION TO BE ELECTED DIRECTOR. - If a person becomes a stockholder of a corporation and gets himself elected as a director, and while he is such a director, he forms his own corporation competitive or antagonistic to the corporation of which he is a director, and becomes Chairman of the Board and President of his own corporation, he may be removed from his position as director, admittedly one of trust and confidence. If this is so, a person controlling, and also the Chairman of the Board and President of, a corporation, may be barred from becoming a member of the Board of...