| TABLE OF CONTENTS: | |
| RULE 1. Coverage and General Provisions | RULE 3. Insolvency of Individual Debtors |
| RULE 2. Liquidation of Insolvent Juridical Debtors | RULE 5. Procedural Remedies |
SEC. 1. USE OF TERM DEBTOR. – The term debtor used in this Rule shall refer to an individual debtor and/or a juridical debtor whenever appropriate.
Continue readingSEC. 1. MOTION FOR RECONSIDERATION IN SUSPENSION OF PAYMENTS PROCEEDINGS. – A party may file a motion for reconsideration of a Suspension of Payments Order, or any order issued by the court prior to its order confirming or disapproving the proposed agreement mentioned in Section 9, Rule 3 (A) of these Rules. No relief can be extended to the party aggrieved by the court’s order on the motion through a special civil action for certiorari under Rule 65 of the Rules of Court.
Continue readingHow much foreign ownership is allowed for mining companies in the Philippines? The Supreme Court again discussed this issue in a recent ruling denying a motion for reconsideration filed by certain mining companies in the Philippines. The controversy is anchored on the requirement that mining, among other activities, is reserved by the Constitution — the highest law of the land — for Filipinos. Sec. 2, Art. XII of the Constitution, which provides that the exploration, development, and utilization of of natural resources is reserved to Filipinos, whether natural persons or juridical persons. Filipino juridical persons refer to “corporations or associations at least sixty per centrum of whose capital is owned by such citizens.”
Continue readingThe Securities and Exchange Commission (SEC) has extended the compliance period — until 30 June 2015 (per Memorandum Circular No. 1, series of 2015) — for companies and partnerships to comply with the required designation of the principal office address. We believe that it’s helpful to disseminate the information to non-clients as well, so we are summarizing the requirements below, culled from SEC Memorandum Circular No. 6 (series of 2014; full text) and SEC Memorandum Circular No. 16 (series of 2014; full text).
Continue reading[See also SEC Rules on Principal Offic Address; and Memorandum Circular No. 6, series of 2014]
TO : ALL CONCERNED
SUBJECT : PRINCIPAL OFFICE ADDRESS OF CORPORATIONS
AND PARTNERSHIPS
[See also Rules on Principal Office Address; and SEC Memorandum Circular No. 16, series of 2014]
Company Registration and Monitoring Department
TO : ALL CONCERNED
SUBJECT : AMENDMENT OF THE PRINCIPAL OFFICE ADDRESS
Continue readingBe it enacted by the Senate and House of Representatives of the Philippines in Congress assembled:
Continue readingAN ACT AMENDING CERTAIN PROVISIONS OF REPUBLIC ACT NO. 7581, ENTITLED “AN ACT PROVIDING PROTECTION TO CONSUMERS BY STABILIZING THE PRICES OF BASIC NECESSITIES AND PRIME COMMODITIES AND BY PRESCRIBING MEASURES AGAINST UNDUE PRICE INCREASES DURING EMERGENCY SITUATIONS AND LIKE OCCASIONS” AND FOR OTHER PURPOSES
[See also: Primer on the Price Act (Republic Act No. 7581, as amended by R.A. 10623); full text of Republic Act No. 10623]
AN ACT PROVIDING PROTECTION TO CONSUMERS BY STABILIZING THE PRICES OF BASIC
NECESSITIES AND PRIME COMMODITIES AND BY PRESCRIBING MEASURES AGAINST UNDUE
PRICE INCREASES DURING EMERGENCY SITUATIONS AND LIKE OCCASIONS
The Food and Safety Act of 2013 (Republic Act No. 10611; full text) was signed by President Benigno Aquino on 23 August 2013. It’s provisions should be interest to both consumers and food business operators. Let’s summarize the salient points of this law. Continue reading