RTTC delinquent in filing annual corporation reports for six years

The CNMI Registrar of Corporations has found that Rota Terminal and Transfer Co. Inc. is delinquent in filing its annual corporation reports for the years 2018 through 2023.

Registrar of Corporations’ Remedio C. Mafnas notified RTTC president and Victor B. Hocog and RTTC secretary Lola H. Marasigan last March 28 that their outstanding annual reports remain a violation of the CNMI Business Corporation Regulation Act.

Saipan Tribune’s email to Hocog requesting for comments was not returned as of press time yesterday.

Mafnas said pursuant to the Administrative Code, effective immediately RTTC is prohibited from conducting any business activities until the outstanding reports are filed within 60 days and any associated fees and penalties are settled and until all tax arrears have been satisfied.

She said pursuant to the Administrative Code, corporations that fail to file required reports for an extended period may be subject to administrative dissolution by the Registrar of Corporations.

“This action effectively terminates the corporation’s legal existence and prohibits it from conducting business,” Mafnas told Hocog and Marasigan.

Pedro Q. Dela Cruz, an agent for Seabridge Isla Shipping Company, wrote recently to Commonwealth Ports Authority board chair Jose C. Ayuyu, stating that the sudden rate increase the RTTC imposed for stevedoring services and equipment use at the Rota port will create “economic chaos” on Rota, with the action having an immense multiplier effect.

Dela Cruz urged Ayuyu to immediately intervene and advise RTTC to hold off on the rate increase until CPA reviews the contract terms and condition relative to the overall RTTC operation, particularly the compliance of the published tariff.