In the Matter of the Petition for Voluntary Dissolution of I-Links Logistics, Inc.

December 6, 2006 SEC CASE NO. 11-06-160 In the Matter of the Petition for Voluntary Dissolution of I-Links Logistics, Inc. , I-Links Logistics, Inc. , petitioner . O R D E R On 20 November 2006, I-Links Logistics, Inc. ("petitioner", for brevity), through majority of its directors, filed a Petition for Voluntary Dissolution dated 16 November 2006, alleging that it eventually ceased business operations sometime in June 2004 due to the gross mismanagement and abandonment of its former President, Michael C. Ampil. Petitioner was incorporated by the Commission on 22 May 2002 under Company Registration No. A200207818 with the following primary purpose: "To engage in the management and operation of logistical centers or facilities which provide warehousing, sorting, local distribution and delivery, and all other allied undertakings to sellers, merchants, retailers and/or other entities engaged in business through the Internet and the world wide web; including forwarding, hauling, carrying, handling, distributing, loading and unloading of general cargoes and all classes of goods, wares and merchandise, domestics or international heavy cargo or freight on a door to port basis and to receive and collect fees for such expressly exclude international air express delivery of documents and parcels on a door to door basis." On 16 August 2006, petitioner's Board of Directors, in a special meeting attended by all five (5) members thereof, resolved to voluntarily dissolve and liquidate the corporation and to appoint Mr. Joel Bodegon as its assignee in liquidation. On the same date and in their own special meeting, petitioner's stockholders representing 80% of the total 12,500 shares of the corporation issued and outstanding unanimously confirmed the aforesaid resolutions of the Board. CTSAaH Finding the petition to be sufficient in form and substance, the same is hereby given due course. Any person who may have objections to the said petition may file this opposition thereto on or before 6 February 2007. 2007sec Before the said date, petitioner is directed to publish this Order once a week for three (3) consecutive weeks in a newspaper of general circulation published in Metro Manila and to post the same in three (3) public places in Muntinlupa City for three (3) consecutive weeks. To ensure compliance with the said requirements, petitioner is further directed to submit a certified true copy of the publisher's affidavit within a period of ten (10) days from the date of last publication and posting. Upon five (5) days notice given after 6 February 2007, the Commission shall proceed to hear the petition and try any issue raised by the objections filed; and if no such objection is sufficient, and the material allegations of the petition are true, it shall order the dissolution of the corporation and direct such disposition of its assets in a fair, orderly and equitable manner, and may appoint a receiver to collect such assets and pay the debts of the corporation. Petitioner is likewise hereby directed, at its expense, to give notice to all its stockholders and creditors of the Petition for Voluntary Dissolution and to furnish the Commission proof thereof on or before 6 February 2007. Let the hearing on the Petition be, as it is hereby set, on 16 February 2007 at two o'clock in the afternoon before Securities Review Counsel Vesper Julius B. Garcia, Office of the General Counsel, 9th Floor, SEC Building, EDSA, Greenhills, Mandaluyong City. SO ORDERED. Mandaluyong City, Philippines, 6 December 2006. (SGD.) VERNETTE G. UMALI-PACO General Counsel Published in the Philippine Star on January 13, 20 & 27, 2007 .