Turner vs. Lorenzo Shipping Digest

GR 157479November 24, 2010 Facts The spouses Turners are stockholders of Lorenzo Shipping Corp. When the Corp decided to amend its Articles to remove the stockholders’ pre-emptive rights to newly-issued shares of stock, the Turners voted against it.  Turners demanded the Corp to buy them out based on BOOK VALUE (equals total assets – liabilities / […]