August 18, 2014
SEC CRMD
IN THE MATTER OF KALAW LEDESMA CONDOMINIUM CORP.
SEC Registration No. 0000078985
FOR : Recognition of Involuntary Dissolution and Recording in the SEC Database
ORDER
WHEREAS, KALAW LEDESMA CONDOMINIUM CORP. ("subject corporation" for brevity), is a non-stock corporation registered with the Commission on April 3, 1978 under SEC Registration No. 0000078985, established to manage and operate Kalaw Ledesma Condominium Project located at #117 Gamboa St., Legaspi Village, Brgy. San Lorenzo Village, Makati;
WHEREAS, as a condominium corporation, the term for which subject corporation is to exist is coterminous with the condominium project;
WHEREAS, Kalaw Ledesma Condominium Project has been completely demolished in 2009, thereby, rendering the continued existence of subject corporation unnecessary and purposeless;
WHEREAS, subject corporation, through its counsel, requested the Commission to recognize its automatic dissolution reckoning from the date of the complete demolition of Kalaw Ledesma Condominium Project;
WHEREAS, the Commission, through SEC Resolution No. 234, Series of 2014, has resolved as follows:
"to CONSIDER the destruction of the condominium building, as a form of involuntary dissolution, equivalent to the expiration of the term of existence of...
