In re Greenhills West Association, Inc.

October 31, 2008 SEC EN BANC CASE NO. 04-08-0407 IN THE MATTER OF GREENHILLS WEST ASSOCIATION, INC., SEC REGISTRATION NO. 000048224 , petitioner. FOR: SETTING ASIDE THE ORDER OF REVOCATION OF THE CERTIFICATE OF REGISTRATION O R D E R Petitioner, GREENHILLS WEST ASSOCIATION, INC. is a non-stock corporation registered with the Commission on 02 August 1972, under SEC Registration No. 000048224, with principal office at Roosevelt Park, Greenhills West, San Juan, Metro Manila, organized to promote and advance the best interests, general welfare, prosperity, and safeguard the well-being of the owners, lessees and occupants of the property in Greenhills West, as stated in its Articles of Incorporation. On 02 July 2003, its Certificate of Registration was revoked by the Commission, by virtue of SEC Order dated 27 May 2003, published on 02 June 2003 in the Philippine Daily Inquirer, for non-filing of reports.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 27 May 2003, on the following grounds: 1. that the past and incumbent officers of Petitioner were not aware of the reportorial requirements of the Commission; 2. that Petitioner has no intention to violate the law; and, 3. that Petitioner continues to exist despite non-filing of reports. In support of its Petition, Petitioner submitted the following documents: * 1. Trustees' Certificate dated 21 May 2008, certifying that at the regular meeting held on 29 August 2007, at which a quorum was present, the resolution allowing the filing of Petition to Set Aside Order of Revocation was approved by the majority of the members and the trustees; 2. Photocopy of the Memorandum of Agreement with the City Government of San Juan signed on 02 April 2008, for granting authority to the City to use that portion of Connecticut Street as "pay parking" zone, for the period starting 01 April 2008 to 31 March 2010, subject to the renewal by agreement of both parties; 3. Photocopies of 2008, 2007, 2006, 2005 Mayor's Permit issued by the City Mayor of San Juan on 05 March 2008, 12 January 2007, 21 January 2006, 02 February 2005, respectively; 4. Photocopies of 2008, 2007, 2006, 2005, 2004 and 2003 Barangay Clearance issued by the Barangay Chairman of Barangay Greenhills, San Juan on 04 January 2008, 02 January 2007, 02 January 2006, 04 January 2005, 05 January 2004 and 07 January 2003, respectively; 5. Photocopy of the Memorandum of Agreement with Barangay Greenhills, San Juan City, dated 10 May 2007, on the enforcement of the tire clamping regulations. Petitioner submitted its 2007 General Information Sheet and 2007 Financial Statements to prove its intention to continue its registration with the Commission. It also manifested that it has no intention to violate the law and it commits to immediately pay the fines as due. On 08 April 2008, Petitioner paid the fine of Php79,250.00, under O.R. No. 0156331, for non-filing/registration of the following, on the years indicated hereunder: NOT FILED FILED LATE General Information Sheet 1996-2006 2007 Financial Statements 1996-2006 Membership Book Registered late WHEREFORE, Petitioner's allegation that it was not aware of the reportorial requirements to be submitted to the Commission is without merit considering that Section 141 of the Corporation Code of the Philippines requires corporations to submit an annual report of its operations and such other requirements as the Commission may require. The corporation is bound by the said provision of the law and it cannot claim ignorance to excuse it from compliance therewith. However, finding the submitted documents sufficient to establish that, Petitioner is operational despite non-filing of reports and, that it intends to continue as a going concern entity, the Order of the Commission dated 27 May 2003, revoking the Certificate of Registration of GREENHILLS WEST ASSOCIATION, INC., is hereby SET ASIDE. SO ORDERED. Mandaluyong City. October 31, 2008. (SGD.) FE B. BARIN Chairperson (SGD.) MA. JUANITA E. CUETO Commissioner (SGD.) JESUS ENRIQUE G. MARTINEZ Commissioner (SGD.) RAUL J. PALABRICA Commissioner (SGD.) THADDEUS E. VENTURANZA Commissioner Footnotes * Photocopies are faithful reproductions of the originals of the documents.