In the Matter of Belledone Financing Corporation

February 22, 2011 SEC-CFD ORDER NO. 035-11 IN THE MATTER OF BELLEDONE FINANCING CORPORATION ORDER OF SUSPENSION The records on file with this Commission show that the subject-corporation failed to submit/comply with the reportorial and other requirements of R.A. No. 8556 as amended, and its Implementing Rules and Regulations and to pay the annual fees for 2005 to 2009 and maximum penalty of One Hundred Thousand Pesos (PhP100,000.00). On 16 January 2008 and 01 October 2007, respectively, show cause letters were sent and received on 14 February 2008 and 18 October 2007 informing the corporation of the said violations. On 11 March 2008, a Notice of Hearing for Suspension was also sent and received on 03 April 2008 by a certain Marita Angel. The company has continuously failed to respond to any of the letters and notice of suspension. Pursuant to the resolution of the Commission in its meeting on 03 February 2011, the company's Certificate of Authority (CA) to Operate as a Financing Company is hereby SUSPENDED for a period of sixty (60) days from receipt of this Order of Suspension or until it has complied with the said reportorial requirements and paid the fees and penalty. After the lapse of said period without compliance by the company with all the said requirements and payment of the fees and penalty, the Commission shall, after due notice and hearing, immediately initiate proceedings for the revocation of its CA. Let a copy of this Order be sent and posted at the principal office of the corporation, at the municipal office of the town/municipality where its principal office is located and at the Commission's website for the information and guidance of the public. IDSEAH SO ORDERED. February 22, 2011, Mandaluyong City. (SGD.) JUSTINA F. CALLANGAN Acting Director