In the Matter of PIPC Corporation

October 19, 2011 SEC ADMINISTRATIVE CASE NO. 08-11-133 IN THE MATTER OF PIPC CORP. ENFORCEMENT AND PROSECUTION DEPARTMENT , petitioner . FOR : Revocation of Corporate Registration ORDER Considering that (1) the certification dated 24 August 2011 issued by Mr. Matthew Ramoso, Property Manager of CitiTower Condominium Corporation, upon verification of PIPC's address by the EPD, states that PIPC no longer resides in its given address at "Citibank Tower 31st Floor Paseo de Roxas Makati City (sic) and that said floor is now occupied by RMBSA Law Office," 1 (2) the Summons addressed to Mr. Michael H. K. Liew, Chairman of PIPC, sent by registered mail to his last known address in Singapore, was returned sealed and undelivered with the notation "Incorrect/Insufficient Address" 2 from the Singapore Post Ltd., (3) the sworn statement by server, Mr. Don M. Seludo, Driver/Messenger of the Securities and Exchange Commission, in his Affidavits of Service, all dated 08 September 2011, states that: 1) when he served the Summons dated 31 August 2011 to Mr. Manuel Z. Gonzales, Corporate Secretary of PIPC, at 3B Tower, Wack-wack Heights, Lee St., Wack-wack Village, Mandaluyong City on 05 September 2011, Mr. Gonzales already moved-out of the given address and his whereabouts is unknown; nobody could be found therein to receive the Summons; 2) when he served the Summons dated 31 August 2011 to Ms. Cristina G. Tuazon, General Manager of PIPC, at 712 H. Yulo Street, Wack-wack, Mandaluyong City on 05 September 2011, Ms. Tuazon already moved-out of the given address and her whereabouts is unknown; nobody could be found therein to receive the Summons; 3) when he served the Summons dated 31 August 2011 to Mr. Ernesto C. Sy, Member of PIPC's Board of Directors, at 53rd Street, New Manila, Quezon City on 06 September 2011, the said address is a wrong address; and the sworn statement by server, Mr. Anthony Glenn Paggao, Driver/Messenger of the Securities and Exchange Commission, in his Affidavits of Service, all dated 16 September 2011, states that: 1) when he served the Summons dated 31 August 2011 to PIPC Corporation, at 31st Floor Citibank Tower, 8741 Paseo de Roxas, Makati City on 05 September 2011, PIPC Corporation already moved-out of the given address four years ago; and 2) when he served the Summons dated 31 August 2011 to Ms. Cristina B. Jurado, Member of PIPC's Board of Directors, at Unit 2628 Cityland Pasong Tamo, Tower Condo., 2210 Don Chino Roces Ave., Makati City on 05 September 2011, Ms. Jurado already moved-out of the given address, and her whereabouts is unknown; nobody could be found therein to receive the Summons; this Office concludes that the whereabouts of PIPC and its Board of Directors cannot be ascertained by diligent inquiry. In light of the foregoing, and the fact that this petition was filed in behalf of the Commission, service by publication under Sections 4-9 of the 2006 Rules of Procedure of the Commission is justified. Wherefore, let the SUMMONS dated 19 October 2011, together with this ORDER and a copy of the PETITION for Revocation of Corporate Registration dated 24 August 2011, be immediately posted in the Commission's website (www.sec.gov.ph) for thirty (30) days. Also, let a copy of this Order and the Summons dated 19 October 2011 be published once in a newspaper of general circulation. Respondent is hereby given thirty (30) days from the date of last publication of this Summons to file an Answer on said Petition dated 24 August 2011 and to serve a copy thereof to petitioner. Respondent may avail of a copy of the petition from the Office of the General Counsel of this Commission during office hours. Accordingly, all publication expenses shall be borne by the petitioner. Let the Enforcement and Prosecution Department be furnished a copy of this Order and the Summons for its appropriate action. CHcTIA SO ORDERED. Mandaluyong City, October 19, 2011. By Authority of the Commission: (SGD.) VESPER JULIUS B. GARCIA Officer-in-Charge Footnotes 1. Annex "E" of Petition. 2. Signed by an Officer on 26 September 2011.