Atty. Leonardo M. Arcol
SEC Opinion • Securities and Exchange Commission • Opinions • Mar 3, 1980
Full text
March 3, 1980 Atty. Leonardo M. Arcol 12/F Antonio Building 540 T.M. Kalaw Street Ermita, Manila Dear Atty. Arcol: This is to acknowledge receipt of your letter dated September 27, 1979 requesting opinion of this Commission relative to the alleged refusal of the China Banking Corporation to credit in favor of your client the twenty percent (20%) stock dividend which was issued by said bank to its stockholders of record as of April 6, 1978. It appears that the allegations and issues raised in your letter may only be threshed out or resolved after a proper action is filed and supporting evidence is presented in connection therewith. Consequently, instead of rendering an opinion on the matter, we suggest that you file the necessary complaint with this Commission. Please be advised accordingly. Very truly yours, For the Chairman: (SGD.) ROSARIO N. LOPEZ Director Corporate and Legal Department
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