In re Golondrina Holdings, Inc.

February 18, 2008 SEC EN BANC CASE NO. 09-07-0199 IN THE MATTER OF GOLONDRINA HOLDINGS, INC. (SEC REG. NO. 19485) , petitioner . FOR: LIFTING OF ORDER OF REVOCATION OF CERTIFICATE OF REGISTRATION O R D E R Petitioner Golondrina Holdings, Inc. is a stock corporation registered with the Commission on 21 September 1961 to engage in business as a holding company. Its office address is located at 3rd Floor, Chemphil Building, Arnaiz St., Makati City. On 26 May 2003, petitioner's Certificate of Incorporation No. 19485 was revoked for non-compliance with the Commission's reportorial requirements, pursuant to the Order dated 22 April 2003 which was published in a newspaper of general circulation on 25 April 2003. Petitioner now prays for the lifting of the said Order of Revocation on the following grounds: 1. the corporation has several parcels of land registered under its name; and 2. the corporation plans to develop/dispose its landholdings. In support of its Petition, petitioner submitted the following documents: 1. 2006 Annual Income Tax Return (BIR Form 1702); 2. 2007 Business Permit issued by Makati City; and 3. Transfer Certificates of Title Nos. 109484, 105580, 106981, 13237 and 105579 showing petitioner's ownership over parcels of land. Petitioner further alleges that it has no intention to violate the law and henceforth, commits to comply with the rules and regulations of the Commission regarding the submission of reports. In fact, petitioner paid the penalty on 18 September 2007 amounting to Twenty-Five Thousand Eight Hundred Pesos (P25,800.00) as evidenced by Official Receipt No. 0099116. WHEREFORE, premises considered, the Order of the Commission dated 22 April 2003 revoking the Certificate of Registration of Golondrina Holdings, Inc. is hereby SET ASIDE. Let a copy of this Order be furnished the Company Registration and Monitoring Department (CRMD) and the Economic Research and Information Department (ERID) of this Commission for their appropriate action. SO ORDERED. Mandaluyong City, Philippines. February 18, 2008. (SGD.) FE B. BARIN Chairperson dissenting MA. JUANITA E. CUETO Commissioner (SGD.) JESUS ENRIQUE G. MARTINEZ Commissioner (SGD.) RAUL J. PALABRICA Commissioner on official leave THADDEUS E. VENTURANZA Commissioner