FINANCIAL REHABILITATION AND INSOLVENCY ACT REPUBLIC ACT NO.

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I. II. III.

FRIAS Declared Policies Nature of Proceedings under the FRIA Proceedings covered by the FRIA 1. Suspension of Payments Proceedings for Individual Debtors a. Individual Debtors Covered b. Suspension of Payment Proceedings 2. Court Supervised Rehabilitation a. Definition and coverage of Rehabilitation b. Purpose of Corporate Rehabilitation c. Suspension of Payments v. Corporate Rehabilitation d. Corporate Rehabilitation v. Corporate Liquidation e. Rehabilitation Proceedings 1) Modes of Initiating a) Voluntary b) Involuntary 2) Commencement Order 3) Initial Hearing 4) Governance of the business/assets of the debtors while the proceedings are pending 5) Rehabilitation Receiver 6) Management Committee 7) Creditors Committee 8) Determination of Claims 9) Rescission or Nullity of Pre-commencement Transactions 10) Rehabilitation Plan 11) Cram Down of the Plan 12) Termination of the Proceedings 13) Appeal in Rehabilitation Proceedings 3. Pre-Negotiated Rehabilitation 4. Out-of Court or Informal Restructuring Agreements of Rehabilitation Plans 5. Liquidation in Insolvency Proceedings 1) Juridical Debtors a) Voluntary b) Involuntary 2) Individual Debtors a) Voluntary b) Involuntary 3) Acts of Insolvency

4) Show Cause Order 5) Custody of Debtors Asset by Sheriff 6) Liquidation Order 7) Liquidator 8) Determination of Claims 9) Rescission or Nullity of Certain Transactions 10) Liquidation Plan Cases Rubberworld Phils., Inc. v. NLRC, G.R. No. 126773. April 14, 1999 Philippine Veteran Bank Employees Union v. Vega, G.R. No. 105364, June 28, 2001 Almars Sibal v. Elbinias, G.R. No. 75414 June 4, 1990 Sobrejuanite v. ASB Development Corporation, G.R. No. 165675, September 30, 2005 Negros Navigation Co., Inc. v. Court of Appeals, G.R. No. 163156, December 10, 2008 Jacinto v. First Womens Credit Corporation, G.R. No. 154049. August 28, 2003 RCBC v. IAC, G.R. No. 74851. December 9, 1999 RETAIL TRADE LIBERALIZATION ACT REPUBLIC ACT NO. 8762 I. II. III. IV. V. VI. VII. VIII. IX. X. Liberal policy towards foreign investments Definition and coverage of Retail Trade Maintenance and distinctions between consumer goods and nonconsumer goods Categories of retail trade enterprises Rules on who may engage in Retail Trade When business medium is foreign owned Qualifications and requirements for foreign investors Foreign Investors acquiring shares of stock of local retailers Public offerings of shares of stock Prohibited activities of qualified foreign retailers

Cases: Espina v. Zamora, G.R. No. 143855, September 21, 2010. Marsman & Co. V. First Coconut Central Co., G.R. No. L-39841 June 20, 1988 Balmaceda v. Union Carbide, G.R. No. L-30442 September 30, 1983 B.F. Goodrich v. Reyes, G.R. No. L-30067 April 19, 1983. Talan v. People, G.R. No. L-37704 January 30, 1989. ANTI-DUMMY LAW PRESIDENTIAL DECREE NO. 715

Cases King v. Hernaez, G.R. No. L-14859, March 31, 1962 Universal Corn Products v. Rice and Corm Board, G.R. No. L-21013, August 17, 1967 Luzon Stevedoring v. Anti-Dummy Board, G.R. No. L-26094 August 18, 1972. Wolgrang Aurbach v. Sanitary Wares, G.R. No. 75875 December 15, 1989