Re: Revocation and Re-registration of a Corporation

September 5, 2017SEC-OGC OPINION NO. 08-17RE: REVOCATION AND RE-REGISTRATION OF A CORPORATIONLeonardo P. ValmontePrestige Native Arts, Inc.2629 Conchu St.Sta. Ana, ManilaSir :This refers to your letter dated 30 May 2017, requesting for a legal opinion on the matter of a revoked and re-registered corporation.In your letter, you stated that Prestige Native Arts, Inc. ("PNA") is a family stock corporation registered with the Commission in 1974. For failure to comply with the reportorial requirements, its Certification of Registration was revoked, per SEC Order of July 2, 2003. Moreover, PNA failed to file a Petition to Lift Revocation Order on time, hence, said Order has become final. You also stated that on September 27, 2010, however, PNA re-registered and was given a new company Registration Number, CS201015603. While PNA's number of directors and authorized capital stock decreased, its name, primary purpose and principal office address remain the same.Thus, you posit the following queries:1. Did the Commission's revocation of PNA Certificate of Registration extinguish the corporation's right of dominion over its corporate assets consisting of real and personal...