DAMBU Corporation, an entity registered in the Philippines with 58% foreign (Malaysian) equity, is engaged in the financing business. Through its President MAHATNIR DAGUL, the corporation was a regular fixture in providing financial assistance to the Filipino farmers. Then war suddenly broke out between the Philippines and China. As a result, the corporation was not able to submit the required reports to the SEC until it is delisted from the records of the agency. Yet, it continued to grant loans to the Filipino farmers that its collectibles reached the amount of 1 Billion Pesos which the identified Filipino farmers failed to pay.

a. What is the nationality of DAMBU Corporation before and after the declaration of war? Give your basis.

b. Describe a corporation by estoppel. Does DAMBU Corporation fall under the category of a corporation by estoppel after it is delisted from the SEC files?

c. Can DAMBU Corporation sue the farmers for the collection of the 1 Billion loan grants?