Tag Archives: Philippines

Out-of-Court or Informal Restructuring Agreements or Rehabilitation Plans (OCRA)

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 An out-of-court or informal restructuring agreement or Rehabilitation Plan (OCRA) that meets the minimum requirements is recognized as consistent with the objectives of Republic Act No. 10142, also known as the “Financial Rehabilitation and Insolvency Act (FRIA) of 2010“. Under R.A. 10142, rehabilitation proceedings may be: (a) Out-of-court or informal restructuring agreements or rehabilitation plans; (b) pre-negotiated rehabilitation; (b) court-supervised rehabilitation proceedings.

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Contracting and Subcontracting is Allowed in the Philippines: Regulatory Framework

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The law allows contracting or subcontracting, which refers to an arrangement whereby a principal agrees to farm out to a contractor the performance or completion of a specific job or work within a definite or predetermined period, regardless of whether such job or work is to be performed or completed within or outside the premises of the principal. What the law prohibits is labor-only contracting. Until the Labor Code is amended, contracting or subcontracting will remain to be allowed in the Philippines. 

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Marriages Exempted from Marriage License Requirement

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A marriage license is issued by the local civil registrar of the city or municipality where either contracting party habitually resides (Article 9, Family Code). A marriage license is a a formal requisite of marriage (see Essential and Formal Requites of Marriage), without which the marriage is considered void from the beginning (see Grounds for Declaration of Nullity of Marriage). However, a marriage license is not required in certain instances, as follows:

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