In the Matter of Eastern Eagle Finance Corporation
SEC-CFD Order No. 084-09 • Securities and Exchange Commission Departments • Corporate Governance and Finance Department (CGFD) • May 28, 2009
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May 28, 2009 SEC-CFD ORDER NO. 084-09 IN THE MATTER OF EASTERN EAGLE FINANCE CORPORATION VIOLATION OF THE IMPLEMENTING R ULE S OF R.A. NO. 8556 (The Financing Company A c t of 1998), CORPORATION C OD E OF THE PHILIPPINES AND SECTION 6 OF SEC MEMO C IRCUL AR #3, SERIES OF 2007 ORDER ON PAYMENT OF PENALTY The records of the Commission show that EASTERN EAGLE FINANCE CORPORATION failed to file its 2007 Audited Financial Statements within the period prescribed by Section 13 (b) of the Rules and Regulations to Implement the Provisions of R.A. No. 8556 (The Financing Company Act of 1998). SCaEcD Likewise, its 2005 to 2007 General Information Sheets as well as its 2008 1st Interim Financial Statements were filed late, in violation of Section 26 of the Corporation Code of the Philippines and Section 6 of SEC Memo Circular #3, Series of 2007, respectively. As a result, the company was ordered to pay a fine of One Thousand Five Hundred Pesos (P1,500.00) which it paid on May 20, 2009 under OR# 0293707. The company is admonished to take all appropriate measures to ensure its faithful and timely compliance with the said rules, law and circular. Any further violation shall subject the company and/or its responsible officers to a heavier penalty pursuant to Memorandum Circular No. 6, Series of 2005 or Consolidated Scale of Fines. SO ORDERED. EDSA, Greenhills, Mandaluyong City, Metro Manila. May 28, 2009. (SGD.) JUSTINA F. CALLANGAN Director
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