In the Matter of Our Lady of Peace and Good Voyage Dangpanan Foundation, Inc.

February 20, 2009 SEC EN BANC CASE NO. 02-08-0354 IN THE MATTER OF OUR LADY OF PEACE AND GOOD VOYAGE DANGPANAN FOUNDATION, INCORPORATED SEC REGISTRATION NO. DN-092-000588 FOR : Setting Aside the Order of Revocation of the Certificate of Registration O R D E R Petitioner, OUR LADY OF PEACE AND GOOD VOYAGE DANGPANAN FOUNDATION, INCORPORATED, is a non-stock corporation registered with the Commission on 09 September 1992, under SEC Registration No. DN-092-000588, with principal office address at No. 02 Quirino Avenue, General Santos City, organized to provide counseling services to troubled individuals and their families and to operate a drug rehabilitation center, as stated in the Articles of Incorporation. aSIHcT On 03 November 2003, its Certificate of Registration was revoked by the Commission, by virtue of SEC Order dated 30 September 2003, published on 04 October 2003 in the Philippine Daily Inquirer, for non-filing of reports. Petitioner now prays for the setting aside of the said Order of Revocation dated 30 September 2003, on the following grounds: 1. that Petitioner was not aware of the Commission's reportorial requirements and just learned about the same on October, 2007; 2. that Petitioner has no intention to violate the law and any SEC rules and regulations; 3. that Petitioner shall henceforth submit reportorial requirements religiously; and 4. that Petitioner intends to continue its registration with the Commission and operation of its business. In support of its Petition, Petitioner submitted the following documents: 1 1. Trustees' Certificate, dated 24 February 2008, stating that at a regular joint meeting of the members and trustees, held on 18 September 2007 at No. 02 Quirino Avenue, General Santos City, at which a quorum was present, the resolution allowing the filing of the Petition to Set Aside Order of Revocation was approved; 2. Photocopy of the 2007 and 2006 Annual Income Tax Returns; 3. Photocopy of the 2008 and 2007 Business Permits, General Santos City; 4. Photocopies of the Resolutions resolved by the Petitioner for various dates in the years 2006 and 2007; and 5. Photocopies of the Official Receipts issued by the Petitioner for various dates in the years 2006 and 2007. Petitioner submitted its 2008 General Information Sheet and 2007 Financial Statements to prove its intention to continue its registration with the Commission. It also commits to immediately pay the fines as due. Upon evaluation of the submitted documents vis--vis the records on file with the Commission, it appears that the Petitioner violated Section 16 of the Corporation Code of the Philippines (the Code) by effecting a change in its corporate name (Our Lady of Refuge-Dangpanan Foundation, Incorporated as stated in the 2006 and 2007 Annual Income Tax Returns, 2007 and 2008 Business Permits, Headletters and Official Receipts) without properly amending its Article of Incorporation (which states Our Lady of Peace and Good Voyage Dangpanan Foundation, Incorporated). Thus, a fine of Php10,000.00 is imposed on the Petitioner, pursuant to Section 144 of the Code. CcAESI On 25 January 2008, Petitioner paid the fine of Php53,750.00, the amount assessed by SEC-Davao Extension Office, under OR No. 5491692 for non/late filing of the following, on the years indicated hereunder: NOT FILED FILED LATE General Information Sheet 1996-2006 2007 Financial Statements 1996-2001, 2003-2005 2002, 2006 WHEREFORE, Petitioner's allegation that it was not aware of the Commission's reportorial requirements is without merit. Section 141 of the Corporation Code of the Philippines (the Code) requires corporations to submit an annual report of its operations and such other requirements the Commission may require. Petitioner is bound by the said provision of the law and it cannot claim ignorance as excuse from compliance therewith. However, finding the submitted documents sufficient to establish Petitioner's intent to continue as a juridical entity, the Commission's Order dated 30 September 2003 revoking the Certificate of Registration of OUR LADY OF PEACE AND GOOD VOYAGE DANGPANAN FOUNDATION, INCORPORATED, is hereby SET ASIDE. Further, Petitioner is hereby directed to file its application for the amendment of its Articles of Incorporation (changing its corporate name from Our Lady of Peace and Good Voyage Dangpanan Foundation, Incorporated to Our Lady of Refuge Dangpanan Foundation, Inc. ), and to pay the corresponding fine of Ten Thousand Pesos (Php10,000.00), within thirty (30) days from receipt of this Order. Petitioner is warned that non-compliance therewith shall constitute a continuous violation of Section 16 of the Code. SO ORDERED. Mandaluyong City, February 20, 2009. (SGD.) FE B. BARIN Chairperson (SGD.) MA. JUANITA E. CUETO Commissioner on leave JESUS ENRIQUE G. MARTINEZ Commissioner (SGD.) RAUL J. PALABRICA Commissioner (SGD.) THADDEUS E. VENTURANZA Commissioner Footnotes 1. Photocopies are faithful reproductions of the originals of the documents. EScAID