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Je Anne subscribed to 10,000 shares of Hanjin Heavy Industries and Construction Philippines (Hanjin PH) for PHP 250.00 per share. Upon her subscription, she has
Je Anne subscribed to 10,000 shares of Hanjin Heavy Industries and Construction Philippines ("Hanjin PH") for PHP 250.00 per share. Upon her subscription, she has already paid PHP 700,000.00. Later, Hanjin PH announced bankruptcy, and entered into corporate rehabilitation.
The creditors of Hanjin PH sued Je Anne, among other shareholders of Hanjin PH, for payment of the unpaid portion of Je Anne's subscription.
Is Je Anne personally liable for the financial obligations of Hanjin PH? If so, up to what extent? If not, why?
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