In the Matter of Kalaw Ledesma Condominium Corp.

August 18, 2014 SEC CRMD IN THE MATTER OF KALAW LEDESMA CONDOMINIUM CORP. SEC Registration No. 0000078985 FOR : Recognition of Involuntary Dissolution and Recording in the SEC Database ORDER WHEREAS, KALAW LEDESMA CONDOMINIUM CORP. ("subject corporation" for brevity) , is a non-stock corporation registered with the Commission on April 3, 1978 under SEC Registration No. 0000078985, established to manage and operate Kalaw Ledesma Condominium Project located at #117 Gamboa St., Legaspi Village, Brgy. San Lorenzo Village, Makati; WHEREAS, as a condominium corporation, the term for which subject corporation is to exist is coterminous with the condominium project; WHEREAS, Kalaw Ledesma Condominium Project has been completely demolished in 2009, thereby, rendering the continued existence of subject corporation unnecessary and purposeless; WHEREAS, subject corporation, through its counsel, requested the Commission to recognize its automatic dissolution reckoning from the date of the complete demolition of Kalaw Ledesma Condominium Project; WHEREAS, the Commission, through SEC Resolution No. 234, Series of 2014, has resolved as follows: "to CONSIDER the destruction of the condominium building, as a form of involuntary dissolution, equivalent to the expiration of the term of existence of the condominium corporation. cSICHD to REQUIRE condominium corporations, whose condominium building was demolished or destroyed, to inform the submission of a Notice with picture of the destroyed or demolished building, for proper encoding and change of status of the corporation in the SEC database." WHEREAS, in compliance with the directive of the Commission, subject corporation submitted copies of the following documents to prove the total demolition of Kalaw Ledesma Condominium Project as follows: 1. Certificate of Completion and Final Acceptance/Turn Over issued by JLC Corporation, the company in-charge of demolishing the building; 2. Notice of Cancellation issued by the Office of City Assessor of Makati City; 3. Verification Slip issued by the Bureau of Internal Revenue; and 4. Pictures of the demolished building. WHEREFORE, finding the submitted documents sufficient to prove the termination of the condominium project for which subject corporation was established to manage and operate, KALAW LEDESMA CONDOMINIUM CORP. is hereby considered as DISSOLVED. Let the copies of the supporting documents submitted by subject corporation be attached by the Corporate Filing and Records Division of this Department to the records of the corporation on file with the Commission and its "dissolved" status be entered in the Commission's database. SO ORDERED. Mandaluyong City, Philippines. August 18, 2014. STaAcC (SGD.) FERDINAND B. SALES Director Company Registration and Monitoring Department Securities and Exchange Commission