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Cancelled SEC registration

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1 Cancelled SEC registration on Mon Jun 25, 2012 6:57 pm

friend_betrayal


Arresto Menor
Hi Atty,

Me and my 2 friends form a corporation. Unfortunately, the business didnt prosper. We are already on the stage wherein we filed our application with SEC therefore we already deposited the 25% of 25% of our capital to the bank.

The nominated Treasurer was the one holding our invested money and she is also the responsible person on processing our SEC application. According to SEC, since the corporation did not prosper then we need to file a Certificate of Non-registration in order for us to withdraw our capital from the bank. I called the SEC and they informed me that the Certificate of Non-registration is already available but our Treasurer haven't claimed.

I am suspecting that she is delaying or holding the processing to keep our invested money on her possession. I asked her to provide us expense summary so we would know how much money we can still claim but she failed to do so.

Is this valid for a estafa case?

Appreciate your advice on this.

Thank you.

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2 Re: Cancelled SEC registration on Mon Jun 25, 2012 7:31 pm

attyLLL


moderator
unless she has used it for her personal purposes, imo, no, it is not estafa


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3 Re: Cancelled SEC registration on Fri Sep 07, 2012 3:20 pm

HRGashley


Arresto Menor
Hi. Just wonderin, isn't it that in order to establish a corporation you need atleast 5 people to create one?

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4 Re: Cancelled SEC registration Today at 10:11 am

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