September 10, 2008
SEC CED REF. NO. 2008-1394-CID
IN THE MATTER OF MEDICUS (ILOILO CITY), INC.
O R D E R
Before this Commission is the request for settlement of the total assessed penalties imposed against Medicus (Iloilo City), Inc. (Medicus) for late filing of the following reportorial requirements with the Corporation Finance Department in violation of Securities Regulation Code's Implementing Rules and Regulations, particularly Rule 17: ETAICc
SEC Form 17-Q (2007) First Quarter Report
SEC Form 17-Q (2007) Second Quarter Report
SEC Form 17-Q (2007) Third Quarter Report
In a letter dated 22 August 2008, Medicus, through its President, Dr. Vicente E. Villareal, formally requested the Compliance and Enforcement Department (CED) to pay fifteen percent (15%) or FORTY-FOUR THOUSAND FIVE HUNDRED FIFTY PESOS (PHP44,550.00) of the total assessed value of the penalties in the amount of TWO HUNDRED NINETY SEVEN THOUSAND PESOS (PHP297,000.00) imposed by the Corporation Finance Department against Medicus. Attached with the said letter is a Secretary's Certificate dated 22 August 2008 stating that at the Special Meeting of the Board of Directors of Medicus held on 20 August 2008...
