SEC ordered KCCNBI to change its corporate name, Nidea to file an Appeal

News and Updates

Show all news

SEC ordered KCCNBI to change its corporate name, Nidea to file an Appeal

Mandaluyong City  --  The Securities and Exchange Commission (SEC), in its order, written by its general counsel Vernette G. Umali-Paco issued on March 11, 2010, directed the Kabalikat Civic Communicators Network of Bicol, Inc. to change or modify its corporate name within thirty (30) days from receipt hereof.”

Regional Governor Jennis Nidea through the group's legal counsel, is now preparing an Appeal Memorandum which will be filed with the SEC en banc.

It will be recalled, last February, 2009, Mr. Gil de la Torre and Mr. Rodrigo Vicaldo, representing Kabalikat Civicon Assn., Inc., filed a petition against the KCCNBI represented by Jennis Nidea, SEC Case No. 02-09-2605, titled “Petition  for Revocation and/or Cancellation of Corporate Name”.  

However, on the March 11 decision, the SEC “did not revoke or cancel the registration and instead, SEC just directed us to change or modify our corporate name”, Nidea pointed out.

In its text message to Nidea on April 5, 2010, KCCNBI legal counsel “The decision of the SEC is not yet final.  In fact, we are preparing to file our Appeal Memorandum with the SEC En Banc.  We will inform them sooner the fact of our appeal.  THE BATTLE ISN'T OVER YET as we are exhausting all possible remedies provided by law.  Once appeal memo is file, we will maintain using our corporate name.  Don't be affected by their press releases.  Until and unless judgment becomes final and executory, we are Kabalikat Civic Communicators Network of Bicol, Inc.”

Nidea in a statement said:  "Lahat po gagawin ng mga namumuno sa civicom na tayo ay sirain, gumawa ng kung anu-anong kuwento para tayo ay sirain at para panghinaan ng loob ang ating mga kasapi.  Sana po, magtanong muna tayo para mas malaman natin ang buong katotohanan."

"This is just one setback that for me, is a big challenge, which should motivate us more to strive for excellence in serving our people and community as volunteers", Nidea added.

To all 41s and regular SMART users who would like to join and subscribe, key in the following to register:

1. write message:
   KBNET<space>REG<space> name/callsign/chaptercode
2. send to:
   717KPI (or 717574)
3. then again. write message:
   KBNET<space>PUSH<space>ON
4. lastly, send to: 717KPI (or 717574)

to send feedback to KBNET:

1. write message:
   KBNET<space>FEEDBACK<space>MESG
2. send to:
   700KPI or 700574

other services:

Textcast, mobileexchange, mobileoffice, gateway, and wireless group exchange