MALACANAN PALACE
MANILA
BY THE PRESIDENT OF THE PHILIPPINES
DECLARING 26 DECEMBER 2016 (MONDAY) AND 2 JANUARY 2017 (MONDAY), AS SPECIAL (NON-WORKING) DAYS THROUGHOUT THE COUNTRY
[“Balikbayan Boxes,” according to the Bureau of Customs, “are packages of personal effects and/or “pasalubongs” sent by Filipinos residing or working abroad to their families or relatives in the Philippines to enhance Philippine tradition and culture for the promotion and preservation of strong family ties through love and caring expressed in gift-giving.” Under the new rules issued by the Bureau of Customs, balikbayan boxes sent by Overseas Filipino Workers (OFW) to the Philippines shall not be subjected to random or arbitrary physical examination, but shall be subjected to mandatory x-ray scanning. The full text of the rules is reproduced below.]
Continue reading[The Supreme Court of the Philippines, voting 9-5, dismissed the petitions seeking to disallow the burial of former President Ferdinand Marcos at the Libingan ng mga Bayani. This is the full text of the Supreme Court’s majority decision in the Marcos burial case, Ocampo et al. vs. Enriquez, G.R. Nos. 225973, 225984, 226097, 226116, 226117, 226120, and 226294, 8 November 2016].
Continue reading[The Bangko Sentral ng Pilipinas (BSP) has approved the implementation of the electronic clearing of checks, starting January 2017. This will speed up the clearing of checks from 3 to 5 banking days, down to 1 day. Issuers must consider the faster clearing of checks to avoid bouncing checks. To assist in the dissemination of this information, we are reproducing the media release of the BSP.]
Continue readingThe Revised Penal Code (Act No. 3815) provides the duration and effects of penalties for felonies defined and punished in said law. Special laws usually provide for specific duration of penalties, unless reference is made to the penalties under the Revised Penal Code.
Continue reading[Full text of A.M. NO. 15-04-06-SC dated 21 April 2015, approving the Financial Liquidation and Suspension of Payments Rules of Procedure for Insolvent Debtors (2015), otherwise known as the “FLSP Rules”, issued by the Supreme Court pursuant to Republic Act No. 10142. For the summaries/discussions, refer to the Table of Contents. The full text of the FLSP Rules is reproduced below.]
Continue reading| TABLE OF CONTENTS: | |
| RULE 1. Coverage and General Provisions | RULE 4. Provisions Common to Liquidation in Insolvency |
| RULE 3. Insolvency of Individual Debtors | RULE 5. Procedural Remedies |
SEC. 1. WHO MAY FILE PETITION; VENUE; CONTENTS. – An insolvent juridical debtor may file a verified petition for liquidation in the Regional Trial Court which has jurisdiction over its principal office as specified in its articles of incorporation or partnership. Where the principal office of the corporation or partnership as registered with the Securities and Exchange Commission (SEC) is in Metro Manila, the petition must be filed in the Regional Trial Court of the city or municipality where the head office is located. The petition shall indicate the names of at least three (3) nominees to the position of liquidator and shall include, as minimum attachments, the following:
Continue reading| TABLE OF CONTENTS: | |
| RULE 1. Coverage and General Provisions | RULE 4. Provisions Common to Liquidation in Insolvency |
| RULE 2. Liquidation of Insolvent Juridical Debtors | RULE 5. Procedural Remedies |
A. SUSPENSION OF PAYMENTS
SEC. 1. WHO MAY FILE PETITION; VENUE; CONTENTS. – An individual debtor who has assets that exceed his liabilities but foresees the impossibility of paying his debts when they respectively fall due may file a verified petition for suspension of payments in the court having jurisdiction over the province or city where he has resided for six (6) months prior to the filing of the petition.
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