G.R. No. 100468 – 338 Phil. 759 – 272 SCRA 253 – Mercantile Law – Corporation Law – Right To Sue Under A Corporate Name
In 1988, Bormaheco, Inc. (Bormaheco) filed an ex-parte petition with the Registry of Deeds of Makati for the issuance of a writ of possession over various lots that it bought from a bank. Subsequently, a motion for intervention was filed by LIDECO Corporation (Lideco) for certain adverse claims. Bormaheco opposed the motion on the ground that Lideco has no personality to sue because it is not a juridical entity. Apparently, Lideco is not a corporation registered with the Securities and Exchange Commission. Bormaheco’s opposition was granted. Lideco assailed the decision on the ground that LIDECO is an acronym for Laureano Investment & Development Corporation which is a duly organized corporation.
ISSUE: Whether or not Laureano Investment & Development Corporation can sue Bormaheco, Inc. as “LIDECO” Corporation.
HELD: No. A corporation cannot sue under a name other than that registered with the SEC. The contention that Laureano Investment & Development Corporation merely used the abbreviation is not tenable. “Lideco Corporation” had no personality to intervene since it had not been duly registered as a corporation. If Laureano Investment & Development Corporation truly wished to intervene, it should have used its corporate name as the law requires and not another name which it had not registered.
