[SEC-SICD * CASE NO. 10-97-5786. April 28, 1998.]
IN RE: PETITION FOR DISSOLUTION OF HOTEL DEVELOPMENT CORPORATION,
MARIETTO A. ENECIO, petitioner.
D E C I S I O N
This treats of the petition for the voluntary dissolution of the Hotel Development Corporation (HDC) filed by Marietto A. Enecio, in his official capacity as the duly appointed treasurer of said corporation, alleging among others that; HDC is an entity duly organized conformably with Development Bank of the Philippines Resolution No. 3658 dated November 24, 1982, for the purpose of acting as a management subsidiary of the bank's foreclosed hotel properties; that it was duly registered with the Securities and Exchange Commission (SEC) on December 13, 1982 for which it was issued registration No. 0108822; that HDC managed successfully the operations of DBP hotels, and subsequently, however, all the said hotels, as acquired assets were eventually disposed or sold, leaving HDC with no hotel whatsoever to. operate and manage; that realizing the futility of HDC's continuance and existence as a separate corporate body. Her Excellency, then President Corazon C. Aquino...
