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McConnel, Et Al. Vs. Court Of Appeals, Et Al.111 Phil. 310

MCCONNEL, W.P. COCHRANE, RICARDO RODRIGUEZ, ET AL., petitioners, vs. THE COURT OF APPEALS and DOMINGA DE LOS REYES, assisted by her husband, SABINO PADILLA, respondents.

G.R. No. L-10510 | 1961-03-17

D E C I S I O N 


REYES, J.B.L., J.: 

The issue before us is the correctness of the decision of the Court of Appeals that, under the circumstances of record, there was justification for disregarding the corporate entity of the Park Rite Co., Inc., and holding its controlling stockholders personally responsible for a judgment against the corporation. 

The Court of Appeals found that the Park Rite Co., Inc., a Philippine corporation, was originally organized on or about April 15, 1947, with a capital stock of 1,500 shares at P1.00 a share. The corporation leased from Rafael Perez Rosales y Samanillo a vacant lot on Juan Luna...