In the Matter of Vista Mar Beach Resort & Country Club, Inc.
SEC-CFD Order No. 158-10 • Securities and Exchange Commission Departments • Corporate Governance and Finance Department (CGFD) • Jun 24, 2010
Full text
June 24, 2010 SEC-CFD ORDER NO. 158-10 IN THE MATTER OF VISTA MAR BEACH RESORT & COUNTRY CLUB, INC. ORDER The records on file with this Commission show that the company committed the following violations: Violation Frequency Penalty Late filing of 2007 Annual Report 2nd P292,000.00 Late filing of 2008 1st Quarter Report 2nd P126,800.00 Late filing of 2008 2nd Quarter Report 3rd P139,800.00 Late filing of 2008 3rd Quarter Report 4th Suspension Late filing of Current Report 2nd P58,400.00 In spite of notice and demand, the company has failed to pay the assessed penalties. Pursuant to the Resolution of the Commission in its meeting on 03 June 2010, the company's Registration of Securities and Certificate of Permit to Sell Securities to the Public are hereby SUSPENDED for a period of 60 days from the date of receipt of this Order or until the company pays the total penalty of Six Hundred Seventeen Thousand Pesos (P617,000.00) in full. Should the company fail to comply with the above directive within the said period, the Commission shall immediately initiate proceedings for the revocation of its Registration of Securities and Certificate of Permit to Sell Securities to the Public. Let a copy of this Order be posted in the Commission's official website for the information and guidance of the public. aSTAHD SO ORDERED. Signed this 24th day of June 2010 at Mandaluyong City, Philippines. For the Commission: (SGD.) JUSTINA F. CALLANGAN Director
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