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.

Sunday, March 31, 2013

Title IV Section 42 of the Corporate Code

Read the Minutes & Resolutions and Annual Meeting packets we have been given


It seems there is a problem given actions taken by the unelected Board stated in the Minutes we have been given when reading the section below.  Have any of the unelected members (Directors) of the Board now and in the past ever read all the significant documents of SCCC and the those of the government?  I am willing to have a workshop with them and all Unit Owners willing to participate.  It would begin with a reading and discussion.

See the side for links to SCCC-Minutes.2012.04.16 (see Section 6.3) and SCCC-Minutes.2012.08.16 (see VII Other Matters number 1.) after carefully reading Section 42 of the Corporation Code and then ask yourself, others and them some questions.
 
BATAS PAMBANSA BLG. 68
THE CORPORATION CODE OF THE PHILIPPINES
 
TITLE IV — POWERS OF CORPORATIONS

SECTION 42. Power to invest corporate funds in another corporation or business or for any other purpose. — Subject to the provisions of this Code, a private corporation may invest its funds in any other corporation or business or for any purpose other than the primary purpose for which it was organized when approved by a majority of the board of directors or trustees and ratified by the stockholders representing at least two-thirds (2/3) of the outstanding capital stock, or by at least two thirds (2/3) of the members in the case of non-stock corporations, at a stockholder's or member's meeting duly called for the purpose. Written notice of the proposed investment and the time and place of the meeting shall be addressed to each stockholder or member at his place of residence as shown on the books of the corporation and deposited to the addressee in the post office with postage prepaid, or served personally: Provided, That any dissenting stockholder shall have appraisal right as provided in this Code: Provided, however, That where the investment by the corporation is reasonably necessary to accomplish its primary purpose as stated in the articles of incorporation, the approval of the stockholders or members shall not be necessary. (17 1/2a)

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