Question

Commercial

Dominador is the sole beneficial owner of Maginoo Realty Corporation (MRC), which holds title to several prime commercial lots in Makati City. When Dominador incurred personal gambling debts of PHP 12 million from Silverio, he transferred all of MRC's shares to his wife, Corazon, for a consideration of PHP 1,000 only, to put the real properties beyond the reach of his creditors. MRC continued to operate without separate books of accounts and shared the same office, employees, and bank accounts as Dominador's sole proprietorship. Silverio obtained a final judgment against Dominador for PHP 12 million. Unable to collect, Silverio sought to execute the judgment against the real properties titled in the name of MRC, arguing that MRC is merely Dominador's alter ego. May Silverio execute his judgment against MRC's properties? (Bar 2026 Syllabus)

0/1500
5:00
Skip