Northern Islands Co. Inc., the sole 3D appliance distributor in the Philippines, legally exists and goes about its business as usual, company lawyers said yesterday.

Northern Islands made the clarification in response to an earlier report in this paper about the expiration of the company?s corporate life on Aug. 6, 2007.

Company lawyers claimed that the decision of a Securities and Exchange Commission department revoking an earlier approved corporate term extension of Northern Islands was not final and could not be be given any legal effect. Northern Islands appealed the decision to the SEC en banc.

The lawyers said the decision was baseless as the SEC?s Company Registration and Monitoring Department had no jurisdiction to cancel the approved articles of incorporation of Northern Islands.

They had added that 3D Industries Corp. had no interest or standing to file the petition.

3D Industries on Aug. 15, 2008 filed a petition for the revocation and cancellation of Northern Islands? amended articles of incorporation. 3D Industries claimed that a corporation whose corporate life had expired could no longer be extended.

Lawyers of Northern Islands said there was no ground for the cancellation of the Northern Islands? amended articles of incorporation since the supposed defects were merely minor and technical, adding that the SEC department issued the decision ?with grave abuse of discretion.?

?The CRMD-SEC decision revoking the previous term extension was based on certain minor technical defects in the amended articles of incorporation of NICI. The re-filed amended articles of incorporation fully complied with all the technical requirements and, thus, cured any such defects,? the lawyers said.

SEC director Benito Cataran issued on Nov. 6, 2008 an order canceling the amended articles of incorporation of Northern Islands.

Cataran dismissed Northern Islands? claim that the SEC had no jurisdiction over the case. He also did not agree that the petitioner was forum shopping.

Cataran also brushed aside the argument of Northern Islands that the petitioner lacked substantial interest. He said what is stake was not merely the interest of the petitioner but of the public in general.