Plan, plan and plan some more

QUESTION: Is Stonewall Central a better name for the property?
UPDATE (click): 2012 Audited Financial Statements
UPDATE (click): 2013 Annual Meeting packet
UPDATE (click): 2013 Special Meeting packet

AUDITED FINANCIAL STATEMENTS ANALYSIS 2009-2012 (click): A CPA analysis of SOHO Central Condominium Corporation's Audited Financial Statements

The Fantasy Vision

Does everyone remember this among the wonderful ads and brochures and how about the salespeople and what they told us. I hear such fantasies continue. So after watching and remembering, cry and then laugh at the truth that is being exposed.









And, if the above is not enough and you need elevated blood pressure, here is the project's brochure.

Many posts are still issues and need to be read once again. At this main hub of postings watch for new posts and updates. Please get involved by spreading the word as to the issues here. We must document all that is taking place. Many documents need retrieval and assistance is needed in getting them scanned and posted.

Wednesday, March 27, 2013

Title III Section 34 of the Corporation Code

UPDATE (03/31/13):  I was sent a text concerning Bel-Air Soho.  "If found guilty of putting their companies (in place by violating the Corporation Code they) would have to give all back payments received.  As of October and December, two Board members resigned and only a Board Resolution to themselves was the announcement."  If violations of the Code are proven here and declared as such by the government or court, would all payments made since turnover have to be repaid?  What is our Board doing to investigate this?  Oh, silly me, I forgot who controls the Board.
 

Reread Past Posts and attachments


Remember to spend time and read the legal complaint very carefully.  Think on how various charges seem awfully familiar around here.  In fact, as I speak to others from condominiums about Metro Manila seems there is much going on and very little reporting of the facts.  Facts?  I forgot, I was told by one of our Directors to not insult him with the facts.  That is a quote I will never forget.

http://sohocentralcondominium.blogspot.com/2013/03/bel-air-soho-legal-complaint.html

https://docs.google.com/file/d/0B0Sq5pyrVRznNnNBYnNNR0lHSlU/edit?usp=sharing

I believe that other Board members who should know the law need refresher courses, too.  Court is not a good place to be refreshed.

 
BATAS PAMBANSA BLG. 68
THE CORPORATION CODE OF THE PHILIPPINES
 
TITLE III — BOARD OF DIRECTORS/TRUSTEES AND OFFICERS

SECTION 34. Disloyalty of a director. — Where a director, by virtue of his office, acquires for himself a business opportunity which should belong to the corporation, thereby obtaining profits to the prejudice of such corporation, he must account to the latter for all such profits by refunding the same, unless his act has been ratified by a vote of the stockholders owning or representing at least two-thirds (2/3) of the outstanding capital stock. This provision shall be applicable, notwithstanding the fact that the director risked his own funds in the venture. (n)

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