In The Matter of Diamond Star Global Foundation, Inc.

 [SEC-SICD * ADMINISTRATIVE CASE NO. 08-99-0005. April 13, 2000.]IN THE MATTER OF DIAMOND STAR GLOBAL FOUNDATION, INC.D E C I S I O NBefore this Office is a Petition, dated 09 August 1999, filed by the Prosecution and Enforcement Department of the Securities and Exchange Commission for the revocation of the corporate franchise granted to DIAMOND STAR GLOBAL FOUNDATION, INC. (DSGFI), a non-stock corporation registered in accordance with Philippine laws under SEC Registration Certificate No. D-1999-00007, dated 08 January 1999.The subject corporation filed its Answer on 14 October 1999 and the above-entitled case was set for preliminary conference on 15 November 1999. Notices of the said conference were sent and duly received by the parties. On the scheduled preliminary conference, only the petitioner appeared, and the same was reset to 07 December 1999. The respondent failed to appear at the preliminary conference for the second time on 07 December 1999, and the petitioner moved that the respondent be conditionally declared in default pending the receipt by this Commission of the registered mail return card, evidencing...