Court-supervised rehabilitation proceedings filed pursuant to the “Financial Rehabilitation and Insolvency Act (FRIA) of 2010” (Republic Act No. 10142) shall, upon motion, be terminated by order of the court either: (a) declaring a successful implementation of the Rehabilitation Plan; or (b) a failure of rehabilitation.
Continue readingRehabilitation receiver refers to the person or persons, natural or juridical, appointed as such by the court pursuant to Republic Act No. 10142 (“Financial Rehabilitation and Insolvency Act (FRIA) of 2010”) and which shall be entrusted with such powers, duties, and responsibilities provided under the Financial Rehabilitation Rules of Procedure (2013) or “FR Rules” (A.M. 12-12-11-SC). Where the rehabilitation receiver is a juridical entity, the term includes the juridical entity’s designated representative. The Rehabilitation Receiver is appointed in court-supervised rehabilitation proceedings.
Continue readingInsolvent debtors, both individual and juridical, are covered by Republic Act No. 10142 (“Financial Rehabilitation and Insolvency Act (FRIA) of 2010“). Individual debtor refers to a natural person who is a resident and citizen of the Philippines that has become insolvent, while juridical debtor refers to:
Continue reading[Republic Act No. 10142; Chapter I; Chapter II; Chapter III; Chapter IV; Chapter V; Chapter VI; Chapter VII; Chapter VIII; Chapter IX; Chapter X; See also Introduction to Insolvency in the Philippines]
Continue reading[Republic Act No. 10142; Chapter I; Chapter II; Chapter III; Chapter IV; Chapter V; Chapter VI; Chapter VII; Chapter VIII; Chapter IX; Chapter X; See also Introduction to Insolvency in the Philippines]
Continue reading[Republic Act No. 10142; Chapter I; Chapter II; Chapter III; Chapter IV; Chapter V; Chapter VI; Chapter VII; Chapter VIII; Chapter IX; Chapter X; See also Introduction to Insolvency in the Philippines]
Continue reading[Republic Act No. 10142; Chapter I; Chapter II; Chapter III; Chapter IV; Chapter V; Chapter VI; Chapter VII; Chapter VIII; Chapter IX; Chapter X; See also Introduction to Insolvency in the Philippines]
Continue reading[On 18 July 2010, the President signed Republic Act No. 10142, otherwise known as the “Financial Rehabilitation and Insolvency Act (FRIA) of 2010”. Here is the complete text, divided into Chapters with summary, of R.A. 10142.]
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