August 6, 2012
SEC-IPSD FC ORDER NO. 101-12
IN THE MATTER OF NJR FINANCING CORPORATION
ORDER OF REVOCATION
The records on file with this Commission show that NJR Financing Corporation failed to comply with the reportorial and other requirements of the Financing Company Act of 1998 and its Implementing Rules and Regulations and to pay the annual fees for 2005 up to present and the corresponding penalties for said violations.
Based on the ocular inspection/on-site audit conducted by an SEC Specialist on 28 February 2012 in the principal office of the company at 282 Pambuan, Gapan, Nueva Ecija, the company is no longer in operation. Said address is now being occupied by Mr. Joel G. Codillo (Mr. J. Codillo). Mr. J. Codillo asserted that the company had already stopped operations few months before his brother, Mr. Noel G. Codillo, who is the president of the company, migrated to Germany in 2009.
Pursuant to the resolution of the Commission in its meeting on 26 July 2012, the company's Certificate of Authority (CA) to operate as a financing company is hereby REVOKED.
Let...
