William H. Quasha vs. The Manila Polo Club

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William H. Quasha vs. The Manila Polo Club

SEC-AC No. 026

February 18, 1980

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Securities and Exchange Commission

SEC Commission En Banc

Corporate

William H. Quasha vs. The Manila Polo Club

SEC-AC No. 026

February 18, 1980

[SEC-AC NO. 026. February 18, 1980.]WILLIAM H. QUASHA, complainant, vs. THE MANILA POLO CLUB, respondent.D E C I S I O NThis is an appeal from the decision of the Hearing Officer on the above-entitled case dated September 12, 1979, confirming the validity of the Amended Articles of Incorporation and Amended By-Laws of the Manila Polo Club, the consequence of which validly converted the club into a proprietary one. A motion for reconsideration was filed by complainant-appellant on said order of the Hearing Officer but was likewise denied. digestThe appeal raises the following assignment of errors:"1. The Hearing Officer erred in finding that only regular members or resident and non-absentee status of respondent club are entitled to vote;"2. The Hearing Officer erred in ruling that only a two-thirds vote of the members entitled to vote of respondent club is necessary to approve the conversion of the respondent club into a proprietary one;"3. The Hearing Officer; erred in finding as valid the adjournment of the members' meeting of respondent club held on August 22 to September...
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William H. Quasha vs. The Manila Polo Club

Tags

Securities and Exchange Commission

SEC Commission En Banc