After the petition for court-supervised rehabilitation, whether voluntary or involuntary, is given due course, the court shall issue an order directing the rehabilitation receiver to call a meeting with the debtor and all classes of creditors, to take place in not less than 2 weeks nor more than 4 weeks from the date of the order, to consider the organization of a creditors’ committee.
Continue readingInvoluntary Court-Supervised Rehabilitation Proceedings against Insolvent Juridical Debtors
Involuntary court-supervised rehabilitation proceedings, as opposed to voluntary court-supervised proceedings, is initiated by the creditors. This is provided under Republic Act No. 10142, also known as the Financial Rehabilitation and Insolvency Act (FRIA) of 2010, as fleshed out in the Financial Rehabilitation Rules of Procedure (2013) or “FR Rules” (A.M. 12-12-11-SC).
Continue readingAffidavit of General Financial Condition in Court-Supervised Rehabilitation
The Affidavit of General Financial Condition is attached to the petition for court-supervised rehabilitation. The affidavit must contain the answers to the following questions:
Continue readingCourt Assistance to Implement or Annul the Out-of-Court Rehabilitation Proceeding or the Standstill Period
The court may assist in the execution or implementation of the standstill agreement or the Out-of-Court or Informal Restructuring Agreements or Rehabilitation Plan (OCRA) by issuing a writ of execution to enforce its terms. Nevertheless, the court has the power to provide any other form of additional assistance as may be necessary to execute or implement the standstill agreement or the OCRA, including the award of damages properly pleaded and proved, and to protect the interests of the creditors, the debtor, and other interested parties.
Continue readingStandstill Period in Out-of-Court or Informal Restructuring Agreements
In an Out-of-Court or Informal Restructuring Agreements or Rehabilitation Plan (OCRA), the parties may agree on a standstill period, which shall be effective and enforceable not only against the contracting parties but also against the other creditors provided it complies with the following conditions:
Continue readingRevocation of Donations and Designation as Insurance Beneficiary in Legal Separation Cases
Within five (5) years from the date the decision granting the petition for legal separation has become final, the innocent spouse may file a petition under oath the same proceeding for legal separation to revoke the donations in favor of the offending spouse. [See Procedure / Steps in Legal Separation Cases]
Continue readingReconciliation of the Spouses in Legal Separation Cases
The Family Code explicitly provides that no legal separation may be decreed unless the court has taken steps toward the reconciliation of the spouses and is fully satisfied, despite such efforts, that reconciliation is highly improbable (Article 59). Reconciliation, therefore, is highly encouraged. The spouses may reconcile even when the petition for legal separation is pending or when a favorable judgment has been issued (see Procedure / Steps in Legal Separation Cases). In case of reconciliation, the spouses must file a joint manifestation, duly signed and under oath, in the same proceeding for legal separation.
Continue readingRevival of Property Regime (or Adoption of Another) in Legal Separation: Philippines
The property relations between the spouses is one of the main issues in a petition for legal separation (see Procedure / Steps in Legal Separation Cases). In case the petition is granted, the court orders the liquidation of the property regime between the spouse.
Continue readingValid Warrantless Searches in the Philippines
People have the constitutional right “to be secure in their persons, houses, papers, and effects against unreasonable searches and seizures of whatever nature and for any purpose shall be inviolable, and no search warrant or warrant of arrest shall issue except upon probable cause to be determined personally by the judge after examination under oath or affirmation of the complainant and the witnesses he may produce, and particularly describing the place to be searched and the persons or things to be seized” (Constitution, Article III, Section 2). There are, however, exceptions to the requirement of a search warrant. The following are instances of valid warrantless searches:
Continue readingDFA Frequently Asked Questions (FAQs) on Apostille
[The Department of Foreign Affairs (DFA) prepared a set of Frequently Asked Questions (FAQs) on Apostille (certainly a new concept for many). We are reproducing the full text of the FAQ for research and educational purposes.]
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