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1 Ousted on Thu Apr 21, 2016 10:10 pm


Arresto Menor
Good Day,
My mom and dad established a small business almost 20 years ago. It was managed by another family member while my parents work to finance the business. Eventually it grew and became a corporation. Other relatives were added to the corp as "dummies" while they wait for us to turn the legal age. When my sibling and I finally got to the right age they asked the "dummies" to hand over the position but they didn't want to anymore. The money loss on my parents' part became worse. They had to owe money for salaries because the income was not remitted properly. According to the person entrusted to manage, there's no income. My parents resigned so they can focus on the business but they were not allowed to take their places in the company. Slowly the 3 other members of the corporation claimed the business and pished my parents off. My parents were devastated. There even came a time when we were not able to eat enough and my sister had no money for tuition (I was in a company that time but have a very small salary), because they were both unemployed. All the money they got from resigning was invested in that business. They were even left with loans. Their names were even removed out of the GIS without my parents' knowledge , they were waving that at people's faces to prove that my parents were not the owner. They even changed the history of the business in writing and announced it to everyone... Right now I have my own business and my parents are currently working for me. They are not receiving anything from that previous corporation. I had stidied for more than 4 years in preparation for the busines and ended up with nothing... But that doesn't compare to the anxiety that my parents felt. I have my own means but it's not enough to pay for all their loans and support a still growing business at the same time. I want my parents to get what is due to them and to experience the fruit of their labor. They are now in their senior years. I want them to retire peacefully and debt free. What can I do to help them? What charges can I bring to court? Your response will greatly be appreciated. Smile

Last edited by Ms.Ai on Thu Apr 21, 2016 10:56 pm; edited 1 time in total (Reason for editing : Too long and detailed)

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2 Re: Ousted on Tue May 03, 2016 8:07 am

tsi ming choi

Reclusion Perpetua
Are your parents still stockholders of that corporation? if so, they can demand and get their respective amount of share in terms of money.

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3 Re: Ousted on Tue May 03, 2016 8:21 am


Reclusion Perpetua
they cannot be removed unless they signed a deed of sale or donation to transfer their shares.

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4 Re: Ousted on Tue May 03, 2016 10:30 am


Prision Mayor
Ms. Ai,
How was the business registered? Were there papers of Proprietorhip / Incorporation? I think this would be the things to start on..

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5 Re: Ousted Today at 7:16 am

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