[SEC-SICD * CASE NO. 05-98-5987. March 15, 2000.]
ROLANDO T. PARCE, plaintiff, vs. GUIMARAS SHIPPING CORPORATION, ANNABELLE C. DELFIN AND/OR JAIME C. ABAN, defendants.
D E C I S I O N
From the incorporation documents of Guimaras Shipping Corporation (hereinafter referred to as the Corporation),it appears that it was incorporated on November 16, 1994. It has an authorized capital of Five Million (P5,000,000.00) Pesos and a subscribed capital of One Million Two Hundred Fifty Thousand (P1,250,000.00) Pesos and a paid up capital of One Million (P1,000,000.00) Pesos. (Plaintiff's Annex "A"; Defendants' Annex "I"). Among the incorporators-subscribers listed in its Articles of Incorporation is plaintiff Rolando T. Parce. He subscribed to Two Hundred Thousand (200,000) shares worth Two Hundred Thousand Pesos and paid Two Hundred Thousand (P200,000.00) Pesos. Defendant Annabelle C. Delfin, the Treasurer of the corporation at the time of its incorporation, attested to the receipt from the subscribers One Million Pesos (P1,000,000.00) representing the total paid-up capital of the corporation. (Treasurer's Affidavit attached to plaintiff's Annex "A") With these antecedent undisputed facts, plaintiff in his complaint...
