Obika v. Ekete
SEC OGC Case No. 2668 • Securities and Exchange Commission Departments • Office of the General Counsel • Mar 11, 2013
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March 11, 2013 SEC OGC CASE NO. 2668 IN THE MATTER OF NIGERIAN STUDENTS UNION PHILIPPINES, INC. JOHNNY OBIKA, ET AL. , petitioners , vs. CHARLES EKETE, ET AL. , respondents . FOR : Irregular and Fraudulent Election of Officers ORDER Records with the Commission show that on 8 August 1984, the Commission received from petitioners Johnny Obika, et al. a Complaint 1 alleging the irregular and fraudulent acts in the election of officers by the Nigerian Students Union Philippines, Inc. ("NSUPI", for brevity). The petitioner alleges that there was an irregularity in the election of Mr. Mac Chinwuko, who was allowed to be a candidate and elected despite being disqualified. The petitioner prays for the following: (1) the issuance of a Restraining Order from the Commission pending resolution of the Complaint ; (2) the holding of an election according to the By-Laws; (3) that the President elect Mac Chinwuke be restrained from performing the functions of his office; (4) that the Commission appoint a temporary or acting Executive Officer that will run the affairs of the association; and (5) after due hearing, that the Commission order a re-organization or re-election of officers. Thus, Hearing Officer Juanito B. Almosa, Jr. issued an Order setting the case for hearing on 17 August 1984. In a Letter dated 20 August 1984, Secretary Agomoh Samuel of NSUPI apologized for the embarrassment some members of the organization brought to the Commission by filing the Complaint . The Letter states that the petitioners were not satisfied with the results of the election. EaDATc The Commission issued an Order dated 23 August 1984 which states that a hearing was conducted without appearance of the parties' counsel. However, instead of resetting the hearing, the Commission converted the hearing to a conference wherein the parties discussed their problems and controversies. The Commission noted during the conference that no By-Laws of NSUPI have been filed. Moreover, the Commission stated that it will be futile to discuss any of the problems and controversies since all its corporate acts are considered as null and void due to its non-filing. Thus, the Commission directed that a committee of six (6) members of NSUPI and one (1) neutral member be created to draft and prepare its By-Laws to be filed with the former. However, NSUPI has not complied with the Order of the Commission by the non-filing of its By-Laws based on our records. Moreover, on 11 August 2003, its Certificate of Registration was revoked by the Commission, by virtue of SEC Order dated 08 July 2003, which was published on 11 July 2003 in the Philippine Inquirer. 2 Considering that the parties failed to file the By-Laws of NSUPI as mandated in the Order dated 23 August 1984 and that the Certificate of Registration of NIGERIAN STUDENT UNION PHILIPPINES, INC. has already been revoked, the dismissal of the instant complaint is warranted since resolving the issue as to the election of its officers will be of no consequence. IN VIEW OF THE FOREGOING, the Complaint dated 4 August 1984 is hereby dismissed for being moot and academic. Let a copy of this Order be furnished to the Company Registration and Monitoring Department for its information and appropriate action. SO ORDERED. Mandaluyong City, March 11, 2013. TaCDcE (SGD.) CAMILO S. CORREA General Counsel Footnotes 1. Dated 4 August 1984. 2. Certificate of Corporate Filing/Information dated 9 January 2013.
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