Leni was an incorporator in Dilaw Corporation (Dilaw for brevity), a corporation which Leni and her friends incorporated for the purpose of engaging in the call-center business. Leni invested P1 million as paid-up capital in Dilaw. After incorporation, Dilaw obtained a 10-year P5 million peso loan from Citibank. As security for the loan, Dilaw executed a real estate mortgage in favor of Citibank over its parcel of land in Dagupan City. Dilaw’s business did not prosper and it sustained heavy losses within 3 years from its incorporation. Leni wants the corporation to return her P1 million investment. The other stockholders have no objection to returning Leni’s investment to her. May the corporation return Leni’s investment to her? Explain. pls help me, thank youu
. Leni was an incorporator in Dilaw Corporation (Dilaw for brevity), a corporation which Leni and her friends incorporated for the purpose of engaging in the call-center business. Leni invested P1 million as paid-up capital in Dilaw. After incorporation, Dilaw obtained a 10-year P5 million peso loan from Citibank. As security for the loan, Dilaw executed a real estate mortgage in favor of Citibank over its parcel of land in Dagupan City. Dilaw’s business did not prosper and it sustained heavy losses within 3 years from its incorporation. Leni wants the corporation to return her P1 million investment. The other stockholders have no objection to returning Leni’s investment to her. May the corporation return Leni’s investment to her? Explain.
pls help me, thank youu
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