Re: Legal Capacity of a Dissolved Corporation in Corporate Liquidation

June 4, 2018SEC-OGC OPINION NO. 09-18RE: LEGAL CAPACITY OF A DISSOLVED CORPORATION IN CORPORATE LIQUIDATIONAtty. Ricardo B. FelixCounsel for H&E Realty Corp.47-L Repam BuildingNaguilian RoadBaguio CityDear Atty. Felix :This refers to your letter dated 10 January 2018 requesting from the Commission an opinion on the legal capacity of a dissolved corporation to institute and file actions in court and other appropriate fora for the recovery and disposition of its properties during liquidation. According to your letter, H & E Realty Corporation, Inc. (H&E) is a domestic corporation organized and existing under Philippine laws, whose registration has been revoked by the Commission due to its failure to submit the General Information Sheet and other requirements. You also mentioned that H&E has already ceased its operation even prior to the revocation of its registration.Further, you averred that H&E is presently winding up its affairs including the institution of legal action in courts for the disposal of the properties registered under its name. You also disclosed that in one case instituted by H&E, the Regional Trial Court of...