In re NFH Corp.

November 28, 2008 SEC EN BANC CASE NO. 05-08-0470-D IN THE MATTER OF NFH CORPORATION SEC REGISTRATION NO. 0000183907 FOR : Setting Aside the Order of Revocation of the Certificate of Registration O R D E R Petitioner, NFH CORPORATION, is a stock corporation registered with the Commission on 21 November 1990 under SEC Registration No. 0000183907, with principal office address at 129 San Juan St., Sabang, Calabanga, Camarines Sur, organized to engage in the business of fishing, as stated in its Articles of Incorporation. On 29 September 2003, its Certificate of Registration was revoked by the Commission, by virtue of SEC Order dated 20 August 2003, published on 28 August 2003 in the Philippine Daily Inquirer, for non-filing of reports. Petitioner now prays for the setting aside of the Order of Revocation dated 20 August 2003, on the following grounds: 1. that Petitioner has been in continuous operation since its incorporation; and that it intends to be so. In support of its Petition, Petitioner submitted the following documents: 1 1. Directors' Certificate dated 2 January 2008, certifying that at a joint special meeting of the Board of Directors and stockholders, held on 19 October 2007, at its principal office in Sabang, Calabanga, Camarines Sur, at which a quorum was present, the resolution allowing the filing of Petition to Set Aside Order of Revocation was unanimously approved; 2. Photocopies of Mayor's Permit for the years 1993-2008, Municipality of Calabanga, Province of Camarines Sur; 3. Photocopy of BIR Form 1702-Annual Income tax Return for the years 1992-2007 received by the Revenue District 65, Calabanga; 4. Photocopies of BIR Form 2307-Certificate of Creditable Tax Withheld at Source for the year 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 manifested that it has no intention to violate the law and any SEC rules and regulations and commits to immediately pay the fines as due. On 19 August 2008, Petitioner paid the fine of P63,000.00, the amount assessed by Legaspi Extension Office of the Commission, under O.R. No. 5511525, for non/late filing of the following, on the years indicated hereunder: NOTED DEFICIENCIES YEARS COVERED REQUIREMENTS NOT FILED FILED LATE General Information Sheet 1996-2005 2006 Financial Statements 1996-2004; 2006 2005 WHEREFORE, finding the submitted documents sufficient to establish the Petitioner's continuous operations since 1992 to present, the Order of the Commission dated 20 August 2003, revoking the Certificate of Registration of the NFH CORPORATION, is hereby SET ASIDE. SO ORDERED. Mandaluyong City, November 28, 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 1. Photocopies are faithful reproductions of the originals of the documents.