Spouses Roy S. Tan and Susana C. Tan vs. Fontana Resort and Country Club, Inc., et al.
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Spouses Roy S. Tan and Susana C. Tan vs. Fontana Resort and Country Club, Inc., et al.
SEC-SICD Case No. 04-99-6264
April 28, 2000
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Securities and Exchange Commission Departments
SEC Securities Investigation and Clearing Department
Corporate
Spouses Roy S. Tan and Susana C. Tan vs. Fontana Resort and Country Club, Inc., et al.
SEC-SICD Case No. 04-99-6264
•April 28, 2000
[SEC-SICD * CASE NO. 04-99-6264. April 28, 2000.]SPOUSES ROY S. TAN and SUSANA C. TAN, plaintiffs, vs. FONTANA RESORT & COUNTRY CLUB, INC., and RN DEVELOPMENT CORPORATION,defendants.D E C I S I O NLast December 7, 1999 at 10:00 o'clock in the morning, defendants were supposed to present their evidence. However, only counsel for petitioners appeared despite due notice on the part of counsel for defendants .It must be emphasized that defendants were twice given the opportunity to present evidence. The first time was on November 22, 1999 where counsel for defendants merely sent their messenger to ask for postponement.Upon oral motion of counsel for plaintiffs during the hearing on December 7, 1999, defendants' right to present evidence was deemed to have been waived. LLprIn the afternoon of December 7, 1999, counsel for defendants Atty. Cecile L. Andin, came to the Commission and was informed of what transpired during the hearing.On January 11, 2000, defendants filed their Motion for Reconsideration dated December 22, 1999 which cannot be considered since it is a prohibited pleading pursuant...
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