In the Matter of Belledone Financing Corporation
SEC-CFD Order No. 038-12 • Securities and Exchange Commission Departments • Corporate Governance and Finance Department (CGFD) • Jan 31, 2012
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January 31, 2012 SEC-CFD ORDER NO. 038-12 IN THE MATTER OF BELLEDONE FINANCING CORPORATION FOR : Revocation of the Certificate of Authority (CA) to Operate as a Financing Company ORDER Records on file 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). AaSCTD In its Order dated 22 February 2011, the Commission SUSPENDED the company's Certificate of Authority (CA) to Operate as a Financing Company for a period of sixty (60) days from receipt of the said Order or until the corporation has complied with the said reportorial requirements and paid the annual fees and penalty. The records on file with the Commission show that the company, as well as its directors/officers, received the Order of Suspension on 23, 24 and 28 March 2011, and had until 28 May 2011 within which to comply with it. The subject corporation failed to comply therewith. On 13 June 2011, notices for revocation proceedings were sent through registered mail on the company's principal office and directors/officers. The SEC examiner went to conduct an ocular inspection at the office of the company. It was observed that the principal office address of the company is also the home address of the President of the company but she was not able to talk to the President as she was out for work. The female person left in the house/principal office said that she was not aware of any financing operations of the company in the area. Pursuant to the resolution of the Commission in its meeting on 19 January 2012, the company's Certificate of Authority to Operate as a Financing Company is hereby REVOKED. Let a copy of this Order be sent to the principal address of the company, the Municipal Hall of Mariveles, Bataan and posted in the Commission's official website for the information and guidance of the public. ECTIcS SO ORDERED. January 31, 2012, Mandaluyong City. (SGD.) JOCELYN C. VILLAR-ALTAMIRA Acting Director
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