ADVOCACIES

Back to Listing

RA 10142: Financial Rehabilitation and Insolvency Act

RA 10142: Financial Rehabilitation and Insolvency Act

Repeals the century-old Insolvency Law and provides a framework for proceedings relating to insolvency and rehabilitation of companies nearing bankruptcy. The law provides for procedures and requirements for court-supervised, pre-negotiated and out-of-court/informal rehabilitation proceedings.

Lapsed into law on 07/18/2010

Source: http://www.officialgazette.gov.ph/2010/07/18/republic-act-no-10142/