Status of Pre-Need Corporations Retained with the Securities and Exchange Commission in View of Its Residual Power under Republic Act No. 9829, Otherwise Known as "The Pre-Need Code of the Philippines" (As of 7 September 2012)

September 7, 2012 STATUS OF PRE-NEED CORPORATIONS RETAINED WITH THE SECURITIES AND EXCHANGE COMMISSION IN VIEW OF ITS RESIDUAL POWER UNDER REPUBLIC ACT NO. 9829, OTHERWISE KNOWN AS "THE PRE-NEED CODE OF THE PHILIPPINES" (AS OF 7 SEPTEMBER 2012) Effective 2 January 2010, the jurisdiction over the regulation and supervision of the pre-need industry was transferred to the Insurance Commission (IC) from the Securities and Exchange Commission (SEC) pursuant to Republic Act No. 9829, otherwise known as the "Pre-Need Code of the Philippines" ("Pre-Need Code," for brevity). Sixteen pre-need corporations, however, have been retained with SEC in view of Section 57 of the Pre-Need Code which mandates the SEC to continue to its full and final conclusion all pending claims, complaints and cases filed with it prior to the effectivity of the Pre-Need Code. Hence, the SEC continues, among others, to assist planholders by referring them to the receivers/liquidators of the following corporations: a) Five pre-need corporations under rehabilitation/receivership/liquidation; and b) Eleven pre-need corporations whose trust funds are under liquidation either by the corporation or the SEC appointed liquidator. Listed below are the status of the 16 pre-need corporations, the names of their receivers/liquidators, telephone numbers and addresses where planholders can file their claims. I. Pre-Need Corporations Under Rehabilitation/Receivership/Liquidation by the Court 1. Abundance Provider and Entrepreneurs Corporations (Doing business under the name and style "APEC PLANS," Formerly: PACIFIC PLANS, INC.) SaIHDA Title of Case: Special Proceeding No. M-6059 Court/Judge: RTC Branch 61, Makati City Judge J. Cedrick O. Ruiz Tel. Nos. 870-1000 local 1517 Date of Petition for Corporate Rehabilitation: 7 April 2005 Receiver: Mr. Mamerto A. Marcelo, Jr. Unit 407, Cityland 10 Tower II H. V. de la Costa St., Salcedo Village Makati City aHIEcS Date of Approval of the Rehabilitation Plan (only on the PEPTrads or the traditional/open-ended educational plans): 27 April 2006 Date of Approval of the Modified Rehabilitation Plan: 28 July 2008 Address of APEC Plans: 12th Flr. Chatham House 116 Valero corner Rufino Sts. Salcedo Village, Makati City Tel. Nos. 888-2732 local 146 Status: Court ORDER dated 27 August 2010 declared that the on-going payments made to the planholders of APEC PLANS shall be considered PARTIAL PAYMENTS ONLY and not final settlement of their claims against APEC PLANS. From the proceeds of the NAPOCOR bonds which matured on 12 July 2010, the planholders received their proportionate share in the trust fund asset under the Modified Rehabilitation Plan. Further, it was directed that the acceptance of and/or by the planholders concerned in the subject payments shall be without prejudice to the decision of the Supreme Court in the case of PEP Coalition vs. Pacific Plans, et al. , docketed as G.R. No. 179409. The implementation of the rehabilitation plan is still on-going under the supervision of the Makati RTC Branch 61. EDSAac 2. College Assurance Plan Philippines, Inc. ("CAP") Title of Case: Special Proceeding No. M-6144 Court/Judge: RTC Branch 149, Makati City Judge Cesar O. Untalan Tel. Nos. 870-1000 local 1574 Date of Petition for Corporate Rehabilitation: 23 August 2005 Receiver: Mr. Mamerto A. Marcelo, Jr. Unit 407, Cityland 10 Tower II H. V. de la Costa St., Salcedo Village Makati City IEHDAT Date of Approval of the Rehabilitation Plan: 8 November 2006 Address of CAP: 126 Amorsolo corner Herrera Sts. Legaspi Village, Makati City Tel. Nos. 819-2684 Office Hours: 8:30 AM to 5:30 PM Status: CAP is currently implementing its Rehabilitation Plan which provided for the payment of reduced tuition benefits for the beneficiaries of CAP educational plans. The implementation of the rehabilitation plan is still on-going under the supervision of the Makati RTC Branch 149. (NOTE: Comprehensive Annuity Plans and Pension Corporation ("CAP PENSION") is an affiliated corporation which is now under the jurisdiction of IC. CAP PENSION is placed under conservatorship by IC.) 3. Pet Plans, Inc. ("PET Plans") Title of Case: Special Proceeding No. M-6289 AHaETS Court/Judge: RTC Branch 149, Makati City Judge Cesar O. Untalan Tel. Nos. 870-1000 loc. 1574 Date of Petition for Corporate Rehabilitation: 20 June 2006 Receiver: Atty. Danilo L. Concepcion Unit 2701, 27th Floor, 88 Corporate Center 141 Sedeno cor. Valero Sts. Salcedo Village, Makati City Tel. Nos. 752-4494 Date of Approval of the Modified Rehabilitation Plan: 30 April 2007 Status: On 30 April 2007, the Court approved the Modified Rehabilitation Plan of PET Plans converting the pre-need contracts and the three separate trust funds ( i.e. , education, life and pension trust funds) into a unified trust fund ( i.e. , the Enhanced Value Fund) under the management of the Asset and Trust Management Group of Bank of the Philippine Islands. On 22 February 2011, the Court approved the Motion of PET Plans to modify the rehabilitation plan. The said modification of the rehabilitation plan refers to allowing PET Plans to contribute the amount of P2 million cash and to transfer real properties with total market value of P3,496,500.00 to the mutual fund of the planholders in lieu of the previously proposed and approved yearly contribution of 15% net income from its pre-need business for 10 years. CTaIHE The SEC filed its Motion for Reconsideration (MR) of the above approval of modification of PET Plans' rehabilitation plan. The Court denied the MR of the Commission on 9 December 2011 and ordered the release and exit of petitioner PET Plans from the rehabilitation proceeding. The Office of the Solicitor General (OSG), however, filed the SEC Petition for Certiorari (CA-G.R. SP No. 123703) dated 2 March 2012 with the Court of Appeals, questioning the aforesaid decision of the Court. PET Plans submitted its Comments dated 10 May 2012 to the Court. OSG filed a Reply dated 10 August 2012 to the said Comments, reiterating its prayer in the aforesaid Petition for Certiorari . 4. Platinum Plans Phils, Inc. ("Platinum") Title of Case: Special Proceeding No. M-6101 Court/Judge: RTC Branch 61, Makati City Judge J. Cedrick O. Ruiz Tel. Nos. 870-1000 1517 Date of Petition for Corporate Rehabilitation: 25 June 2005 Receiver: Atty. Elmer Cadano IEAacT Date of Approval of the Rehabilitation Plan: 27 April 2006 Date of Court Order of Liquidation: 12 February 2012 Liquidator: Mr. Mamerto A. Marcelo, Jr. Unit 1407, Cityland 10 Tower II H.V. de la Costa St., Salcedo Village Makati City Status: Court ORDER dated 12 February 2011 terminated the rehabilitation proceedings of Platinum due to failure of implementing the rehabilitation plan and placed the company under liquidation. Mr. Mamerto A. Marcelo, Jr. was appointed as Liquidator. 5. TPG Corporation ("TPG") Title of Case: Special Proceeding No. M-6289 Court/Judge: RTC Branch 149, Makati City Judge Cesar O. Untalan HaECDI Tel. Nos. 870-1000 loc. 1574 Date of Petition for Corporate Rehabilitation: 6 February 2006 Receiver: Atty. Arthur Ponsaran Unit 3104, 31st Floor, Antel Global Corporate Center 3 Julia Vargas Avenue, Ortigas Center Pasig City Tel. Nos. 687-7535 Date of Approval of the Rehabilitation Plan: 28 May 2007 TPG Contact Person: Ms. Mercedita Yutuc Vice President, Customer Care 10th Flr. TPG Bldg., EDSA corner Boni Ave, Mandaluyong City Office Hours: 9 AM to 3 PM Tel. Nos. 533-7064 and 535-0593 533-7061 local 8040 to 8042 TcCEDS Status: On June 26, 2011, the Court ordered the liquification of the trust assets of TPG considering that the projected income of the trust funds was not realized for many years. The liquification committee shall be composed of the President, Receiver and the officer of the trustee bank, Metrobank. The Court allowed the consolidation of trust fund and assets from RCBC to Metrobank. The liquification committee is given one (1) year to do the job and to submit a semi-annual report on the status of actions taken. Consequently, it is necessary that all maturing plans shall be held in abeyance until the final liquification of trust assets had been done. II. Pre-Need Corporations Whose Trust Funds Are Under Liquidation 1. Metropolitan Life Plan, Inc. The liquidation of trust fund is being continued by IPSD-SEC. SEC Contact Person: Ms. Dolores D. Confiado Tel. Nos. 584-5324 and 584-5476 2. Millennium Plans, Inc. The company is implementing its liquidation plan. Contact Person: Ms. Joana Cristina Lagrosa Unit 402 4th Floor 591 Fabricare Bldg. Alabang-Zapote Road, Almanza Uno Las Pinas City Tel. Nos. 919-7920 Office Hours: 8 AM to 5 PM Monday to Friday caTESD 3. Legacy Consolidated Plans, Inc. ("LCPI") In 2009, the Commission started the liquidation of the trust funds of LCPI. On May 2009, the Commission processed 555 check payments amounting to P9,736,023.62 for LCPI planholders. Five hundred twenty three (523) of these check payments worth P9,207,389.36 were actually claimed by planholders. These, however, constitute initial and partial payments computed based on the liquid portion of the trust fund. The Commission stopped distributing the initial payment of claims of LCPI planholders in deference to the filing of a Petition for Certiorari with the Supreme Court to question the Order of the Regional Trial Court of Makati (RTC-Makati) dated June 26, 2009 which prohibited the Commission from further validating the claims of planholders pertaining to their LCPI pre-need plans. The said Petition for Certiorari is pending resolution by the Supreme Court. 4. Scholarship Plan Phils., Inc. ("SPPI") SEC Liquidator: Mr. Manuel C. Baldeo, Jr. 8th Floor SEC Bldg., EDSA Greenhills, Mandaluyong City Tel Nos. 584-5343 As of May 2009, the Commission processed and approved for payment 4,486 planholders' claims. However, because of the June 26, 2009 Order of RTC-Makati, Land Bank of the Philippines (LBP), the trustee of SPPI which maintains most of the liquid trust fund assets of SPPI expressed its reservation in complying with the Commission's directive to process check payments of planholders and decided to wait for the resolution by the Supreme Court on the Commission's Petition for Certiorari . Thus, the processed claims were not paid to the SPPI planholders. SPPI, as well as All Asia Plans Corporation (AAPC), are not included in the June 26, 2009 Order of the RTC-Makati which stopped the Commission from further taking action on claims of planholders. The Commission continues, however, to validate the claims of SPPI planholders. On the claims filed by SPPI planholders who are members of the Armed Forces and Police Savings and Loan Association, Inc. (AFPSLAI), coordination with AFPSLAI was conducted to reconcile records of claimants whose names are not included in the SPPI Masterlist of Planholders. aTAEHc Mr. Manuel C. Baldeo, Jr., the liquidator for AAPC, was likewise appointed as liquidator for SPPI. The Investor Protection and Surveillance Department (IPSD) which was formerly Non-Traditional Securities and Instruments Department of the SEC is currently finalizing the list of validated claims of planholders for the distribution of pro-rata shares out of the SPPI Trust Funds. IPSD continues to coordinate with the liquidator as regards the available liquid assets of the Trust Funds that will be used for the payout to planholders, including the disposition of non-liquid assets of the Trust Funds, the bulk of which consists of the land and building located along Quezon Ave, Quezon City. Mr. Baldeo already caused the publication of notice to bid for said property but no interested buyer appeared in the bidding scheduled in December 2011. Mr. Baldeo will conduct a second bidding for the said property on 13 September 2012, at the 10th Floor, Investor Protection and Surveillance Department, SEC Bldg., EDSA Greenhills, Mandaluyong City . (Note: The Commission no longer accepts claims of planholders in view of SEC Resolution No. 142, series of 2012, setting the extended deadline for filing of claims against SPPI on 13 April 2012.) 5. All Asiaplans Corporation ("AAPC") SEC Liquidator: Mr. Manuel C. Baldeo, Jr. 8th Floor SEC Bldg., EDSA Greenhills, Mandaluyong City Tel Nos. 584-5343 On July 28, 2011, the Commission appointed Mr. Manuel Baldeo, Jr. as the Liquidator of the AAPC Trust Funds. As such, he shall supervise the payments to the planholders and the liquidation of the remaining non-liquid assets of the Trust Fund, the bulk of which consists of the Golden Haven memorial lots in Las Pias. Mr. Baldeo already caused the publication of notice to bid for said property but no interested buyer appeared in the bidding scheduled in August 2011. Mr. Baldeo is still in the process of looking for interested buyer/s of the said memorial lots. TDAcCa On March 1, 2012, the Commission resolved to make an initial payment distribution to AAPC planholders effective March 12, 2012 and onwards. As of 31 August 2012, Mr. Baldeo released a total of 957 checks amounting to P10,613,138.05 to the AAPC planholders. Of the total, 523 or 63.4 percent of the 825 pension planholders received P7,759,058.60 and 434 or 54.7 percent of the 794 education planholders received P2,854,079.45. (Note: The Commission no longer accepts claims of planholders in view of SEC Resolution No. 142, series of 2012, setting the extended deadline for filing of claims against AAPC on 13 April 2012.) 6. Asian Diamond Plans, Inc. ("ADPI") SEC Liquidator: Commission Secretary Gerard Lukban 8th Floor SEC Bldg., EDSA Greenhills, Mandaluyong City Tel. Nos. 584-8141 and 584-5478 ADPI Contact Person: Ms. Annalyn Padilla Upper Ground Ten Globe Tower I Pioneer St., Mandaluyong City Tel. Nos. 719-0029 Office Hours: 8 AM to 5 PM Monday to Friday 7. Family Plans, Inc. SEC Liquidator: Mr. Manuel C. Baldeo, Jr. (On 7 June 2012, Mr. Baldeo was appointed as the new liquidator to replace Mr. Ramon Soriano who resigned from SEC last February 2012.) 8th Floor SEC Bldg., EDSA Greenhills, Mandaluyong City Tel. Nos. 584-5343 SAcaDE 8. GEI Guaranteed Education, Inc. SEC Liquidator: Commission Secretary Gerard Lukban 8th Floor SEC Bldg., EDSA Greenhills, Mandaluyong City Tel. Nos. 584-8141 and 584-5478 9. OCE Plans, Inc. SEC Liquidator: Mr. Manuel C. Baldeo, Jr. (On 7 June 2012, Mr. Baldeo was appointed as the new liquidator to replace Mr. Ramon Soriano who resigned from SEC last February 2012.) 8th Floor SEC Bldg., EDSA Greenhills, Mandaluyong City Tel. Nos. 584-5343 10. Success Education Guarantee System, Inc. SEC Liquidator: Commission Secretary Gerard Lukban 8th Floor SEC Bldg., EDSA Greenhills, Mandaluyong City Tel. Nos. 584-8141 and 584-5478 11. University Plans, Inc. SEC Liquidator: Commission Secretary Gerard Lukban 8th Floor SEC Bldg., EDSA Greenhills, Mandaluyong City Tel. Nos. 584-8141 and 584-5478