November 3, 2017
SEC EN BANC CASE NO. 01-11-227
IN THE MATTER OF THE PENALTY IMPOSED AGAINST ROYALE TAGAYTAY COUNTRY CLUB, INC., FOR NON-FILING OF THE REQUIRED ANNUAL, (SEC FORM 11-A), QUARTERLY (SEC FORM 11-Q), AND CURRENT REPORT OR MATERIAL FACTS/EVENTS REPORT (SEC FORM 11-C), PURSUANT TO SRC SECTION 17.2 (A)
ROYALE TAGAYTAY COUNTRY CLUB, INC., represented by its General Manager, Mr. Ruben B. Encinas, offeror-appellant.
DECISION
This resolves the appeal of Royale Tagaytay Country Club, Inc. from the Notice issued by the Enforcement and Prosecution Department, dated 5 January 2011, disapproving the company's Offer of Compromise.
Appellant is a non-stock, non-profit corporation registered with this Commission under SEC Reg. No. 0000197316. On 9 August 2006, the Corporation and Finance Department (CFD) imposed the penalty of Eight Million, Six Hundred Ninety-Five Thousand, Eight Hundred Pesos (P8,695,800.00) upon Appellant for its failure to file its annual (SEC Form 11-A), quarterly (SEC Form 11-Q), and current reports or material facts/event report (SEC Form 11-C) 1 from 1997 to 2004.
On 23 October 2006, Appellant sought reconsideration of the above-mentioned imposition of fines. CFD, in...
