August 17, 2017
SEC EN BANC CASE NO. 05-14-330
MA. DAPHNE B. BIGCAS, REBECCA B. BERNALES, ROBERTO B. BERNALES, CHRISTINE ANNE B. TIU, respondent-appellants, vs. TERESITA B. DIPON, complainant-appellee.
FOR : Appeal of CRMD's Order Cancelling the Certificate of Approval of Increase of Capital Stock of Notre Dame Oilfields Maritime Services, Inc.
DECISION
This resolves the Notice and Memorandum of Appeal 1 filed on 7 May 2014 by Ma. Daphne B. Bigcas, Rebecca B. Bernales, Roberto B. Bernales, and Christine Anne B. Tiu, (Appellants) against the Order dated 6 March 2014 of the Company Registration and Monitoring Decision (CRMD) for grave abuse of discretion and for serious errors. 2
Notre Dame Oilfields Maritime Services, Inc. (Notre Dame) was registered with the Commission on 14 January 1992. 3 Teresita B. Dipon (Appellee) is a director, stockholder and vice-president of Notre Dame holding 41.25% of its outstanding capital stock. 4 Appellants are also directors and officers of Notre Dame collectively owning 58.75% of the outstanding capital stock. 5
On 27 August 2013, an emergency meeting was allegedly called by the stockholders of...
