[SEC-SICD * CASE NO. 09-99-6240. April 8, 1999.]
IN THE MATTER OF THE PETITION FOR REHABILITATION AND FOR DECLARATION IN A STATE OF SUSPENSION OF PAYMENTS
SM SINOP COMPANY, represented in this derivative suit by Maybelle Joaquin, petitioner.
D E C I S I O N
Before Us is a verified petition dated March 8, 1999, for rehabilitation and for declaration in a state of suspension of payments filed by SM Sinop Company.
The petition alleges the following: that petitioner is a domestic partnership duly organized and existing under and by virtue of the laws of the Philippines with office address at Sampol Market, San Jose del Monte, Bulacan, and represented by one of its partner and manager Maybelle Joaquin; that petitioner was established primarily for lending purpose; that in the course of its business it has acquired real and personal property and receivable with an estimated value of twelve million pesos (p 12 M) and obligations estimated at ten million pesos (P 10 M). LLjur
According to petitioner, it is now constrained to ask this Commission for a declaration of...
