In the Matter of Unifinancial Corporation

August 6, 2012SEC-IPSD FC ORDER NO. 103-12IN THE MATTER OF UNIFINANCIAL CORPORATIONORDER OF REVOCATIONThe records on file with this Commission show that Unifinancial 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 09 March 2012 in the principal office of the company at 212 C. Santos St., Bo. Ugong, Pasig City, the company did not commenced operation. Said address is now being occupied by Unisphere, a merchandising company also owned by Mr. Carlos P. Ty (Mr. Ty), the president of Unifinancial Corporation. A staff of Mr. Ty stated that she is not aware of any financing activity of the company. The same statement was likewise expressed by the security personnel of Unisphere. The accountant of Unifinancial Corporation confirmed that the company has never operated as a financing company, has no definite...