This case has been cited 3 times or more.
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2014-09-29 |
VILLARAMA, JR., J. |
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| It should be emphasized that in the instant case, the transfer of SPPC's real property to respondent was pursuant to their approved plan of merger. In a merger of two existing corporations, one of the corporations survives and continues the business, while the other is dissolved, and all its rights, properties, and liabilities are acquired by the surviving corporation.[21] Although there is a dissolution of the absorbed or merged corporations, there is no winding up of their affairs or liquidation of their assets because the surviving corporation automatically acquires all their rights, privileges, and powers, as well as their liabilities.[22] Here, SPPC ceased to have any legal personality and respondent PSPC stepped into everything that was SPPC's, pursuant to the law and the terms of their Plan of Merger. | |||||
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2014-04-21 |
ABAD, J. |
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| (6) Issuance of certificate of merger or consolidation.[14] | |||||
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2014-04-21 |
ABAD, J. |
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| (6) Issuance of certificate of merger or consolidation. [44] | |||||