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                    [ArticleID] => 456683
                    [Title] => Angara files bill to update 100-year old bankruptcy law
                    [Summary] => 
MANILA, Philippines - Sen. Edgardo Angara has filed a bill seeking to update the country’s 100-year-old bankruptcy law, saying failure to do so could be harmful to the economy and financial system especially during this time of global financial crisis.
                    [DatePublished] => 2009-04-13 00:00:00
                    [ColumnID] => 133272
                    [Focus] => 0
                    [AuthorID] => 1804901
                    [AuthorName] => Aurea Calica
                    [SectionName] => Business
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                    [ArticleID] => 72087
                    [Title] => Breathing space
                    [Summary] => 
            
                    [DatePublished] => 2008-07-10 00:00:00
                    [ColumnID] => 133340
                    [Focus] => 0
                    [AuthorID] => 1804883
                    [AuthorName] => Jose C. Sison
                    [SectionName] => Opinion
                    [SectionUrl] => opinion
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                    [ArticleID] => 290696
                    [Title] => Motion challenging hotel's closure accepted in court
                    [Summary] => Regional Trial Court accepted the motion of one of the stockholders of Garwood Hotel Corp. to dismiss the petition of the hotel's management for declaration of insolvency. 


In his recent order, RTC Branch 11 judge Silvestre Maamo Jr. said the motion to dismiss filed by Manuel Raterta was considered submitted to the court for resolution. 


                    [DatePublished] => 2005-08-09 00:00:00
                    [ColumnID] => 133272
                    [Focus] => 0
                    [AuthorID] => 1789631
                    [AuthorName] => Wenna Berondo
                    [SectionName] => Cebu News
                    [SectionUrl] => cebu-news
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                    [ArticleID] => 188440
                    [Title] => Philrealty gets court approval for suspension of debt payments
                    [Summary] => A week after disclosing plans to submit itself to a rehabilitation program, Philippine Realty & Holdings Corp. said yesterday the court has granted its petition for a suspension of debt payments, putting the company under the supervision of a court-appointed receiver.


Philrealty president Amador Bacani said their petition for a debt payment moratorium is the main component of their corporate rehabilitation program, which will be overseen by Ricardo Ysmael, the designated rehabilitation receiver.


                    [DatePublished] => 2002-12-19 00:00:00
                    [ColumnID] => 133272
                    [Focus] => 0
                    [AuthorID] => 1096615
                    [AuthorName] =>  Christina Mendez
                    [SectionName] => Business
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                    [ArticleID] => 188192
                    [Title] => PSE freezes trading of Philrealty shares
                    [Summary] => The Philippine Stock Exchange yesterday suspended indefinitely the trading of shares of cash-strapped real estate developer Philippine Realty and Holdings Corp. (Philrealty) in view of the company’s filing of a petition for rehabilitation and suspension of debt payments with the regular court.


Citing its listing rules, the PSE said the filing of proceedings for suspension of payments by a listed company shall merit an immediate suspension of trading of the firm’s security.


                    [DatePublished] => 2002-12-17 00:00:00
                    [ColumnID] => 133272
                    [Focus] => 0
                    [AuthorID] => 1804021
                    [AuthorName] => Zinnia B. Dela Peña
                    [SectionName] => Business
                    [SectionUrl] => business
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                    [ArticleID] => 184073
                    [Title] => Resuscitate not liquidate
                    [Summary] => Two years ago, the World Bank gave the Philippines the notorious reputation of having the worst creditor protection system in the region.


According to the World Bank survey, the Philippines ranked poorest compared to other Southeast Asian countries like Hong Kong, Singapore, Malaysia and even Indonesia. The survey pointed out that existing laws tend to favor irresponsible borrowers, and thus leave creditor banks holding the empty bag.


                    [DatePublished] => 2002-11-15 00:00:00
                    [ColumnID] => 133715
                    [Focus] => 0
                    [AuthorID] => 1805279
                    [AuthorName] => Rey Gamboa
                    [SectionName] => Business
                    [SectionUrl] => business
                    [URL] => 
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                    [ArticleID] => 98787
                    [Title] => SEC can’t order NSC liquidation — Hottick
                    [Summary] => The Malaysian majority-shareholder of the cash-strapped National Steel Corp. has asked the Securities and Exchange Commission (SEC) to nullify its order for the liquidation of the company, saying the SEC has no authority to issue such an order.


Hottick Investment Ltd., which owns over 82 percent of the biggest steel firm in the Philippines, said the authority to dissolve and liquidate a corporation has always been exercised by the regional trial courts.


                    [DatePublished] => 2000-11-10 00:00:00
                    [ColumnID] => 133272
                    [Focus] => 0
                    [AuthorID] => 1203478
                    [AuthorName] => by Rommel Ynion
                    [SectionName] => Business
                    [SectionUrl] => business
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INSOLVENCY LAW

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                    [Title] => Angara files bill to update 100-year old bankruptcy law
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MANILA, Philippines - Sen. Edgardo Angara has filed a bill seeking to update the country’s 100-year-old bankruptcy law, saying failure to do so could be harmful to the economy and financial system especially during this time of global financial crisis.
                    [DatePublished] => 2009-04-13 00:00:00
                    [ColumnID] => 133272
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                    [AuthorName] => Aurea Calica
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                    [Title] => Breathing space
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                    [AuthorName] => Jose C. Sison
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                    [Title] => Motion challenging hotel's closure accepted in court
                    [Summary] => Regional Trial Court accepted the motion of one of the stockholders of Garwood Hotel Corp. to dismiss the petition of the hotel's management for declaration of insolvency. 


In his recent order, RTC Branch 11 judge Silvestre Maamo Jr. said the motion to dismiss filed by Manuel Raterta was considered submitted to the court for resolution. 


                    [DatePublished] => 2005-08-09 00:00:00
                    [ColumnID] => 133272
                    [Focus] => 0
                    [AuthorID] => 1789631
                    [AuthorName] => Wenna Berondo
                    [SectionName] => Cebu News
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                    [Title] => Philrealty gets court approval for suspension of debt payments
                    [Summary] => A week after disclosing plans to submit itself to a rehabilitation program, Philippine Realty & Holdings Corp. said yesterday the court has granted its petition for a suspension of debt payments, putting the company under the supervision of a court-appointed receiver.


Philrealty president Amador Bacani said their petition for a debt payment moratorium is the main component of their corporate rehabilitation program, which will be overseen by Ricardo Ysmael, the designated rehabilitation receiver.


                    [DatePublished] => 2002-12-19 00:00:00
                    [ColumnID] => 133272
                    [Focus] => 0
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                    [AuthorName] =>  Christina Mendez
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                    [Title] => PSE freezes trading of Philrealty shares
                    [Summary] => The Philippine Stock Exchange yesterday suspended indefinitely the trading of shares of cash-strapped real estate developer Philippine Realty and Holdings Corp. (Philrealty) in view of the company’s filing of a petition for rehabilitation and suspension of debt payments with the regular court.


Citing its listing rules, the PSE said the filing of proceedings for suspension of payments by a listed company shall merit an immediate suspension of trading of the firm’s security.


                    [DatePublished] => 2002-12-17 00:00:00
                    [ColumnID] => 133272
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                    [AuthorName] => Zinnia B. Dela Peña
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                    [Title] => Resuscitate not liquidate
                    [Summary] => Two years ago, the World Bank gave the Philippines the notorious reputation of having the worst creditor protection system in the region.


According to the World Bank survey, the Philippines ranked poorest compared to other Southeast Asian countries like Hong Kong, Singapore, Malaysia and even Indonesia. The survey pointed out that existing laws tend to favor irresponsible borrowers, and thus leave creditor banks holding the empty bag.


                    [DatePublished] => 2002-11-15 00:00:00
                    [ColumnID] => 133715
                    [Focus] => 0
                    [AuthorID] => 1805279
                    [AuthorName] => Rey Gamboa
                    [SectionName] => Business
                    [SectionUrl] => business
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                    [Title] => SEC can’t order NSC liquidation — Hottick
                    [Summary] => The Malaysian majority-shareholder of the cash-strapped National Steel Corp. has asked the Securities and Exchange Commission (SEC) to nullify its order for the liquidation of the company, saying the SEC has no authority to issue such an order.


Hottick Investment Ltd., which owns over 82 percent of the biggest steel firm in the Philippines, said the authority to dissolve and liquidate a corporation has always been exercised by the regional trial courts.


                    [DatePublished] => 2000-11-10 00:00:00
                    [ColumnID] => 133272
                    [Focus] => 0
                    [AuthorID] => 1203478
                    [AuthorName] => by Rommel Ynion
                    [SectionName] => Business
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abtest

Angara files bill to update 100-year old bankruptcy law

By Aurea Calica | April 13, 2009 - 12:00am

MANILA, Philippines - Sen. Edgardo Angara has filed a bill seeking to update the country’s 100-year-old bankruptcy law, saying failure to do so could be harmful to the economy and financial system especially...

Business

Breathing space

By A LAW EACH DAY (KEEPS TROUBLE AWAY) | By Jose C. Sison | July 10, 2008 - 12:00am

Opinion

Motion challenging hotel's closure accepted in court

By Wenna Berondo | August 9, 2005 - 12:00am

Regional Trial Court accepted the motion of one of the stockholders of Garwood Hotel Corp. to dismiss the petition of the hotel's management for declaration of insolvency. In his recent order, RTC Branch 11 judge...

Cebu News

Philrealty gets court approval for suspension of debt payments

By Christina Mendez | December 19, 2002 - 12:00am

A week after disclosing plans to submit itself to a rehabilitation program, Philippine Realty & Holdings Corp. said yesterday the court has granted its petition for a suspension of debt payments, putting the...

Business

PSE freezes trading of Philrealty shares

By Zinnia B. Dela Peña | December 17, 2002 - 12:00am

The Philippine Stock Exchange yesterday suspended indefinitely the trading of shares of cash-strapped real estate developer Philippine Realty and Holdings Corp. (Philrealty) in view of the company’s filing of...

Business

Resuscitate not liquidate

By Rey Gamboa | November 15, 2002 - 12:00am

Two years ago, the World Bank gave the Philippines the notorious reputation of having the worst creditor protection system in the region. According to the World Bank survey, the Philippines ranked poorest compared...

Business

SEC can’t order NSC liquidation — Hottick

By by Rommel Ynion | November 10, 2000 - 12:00am

The Malaysian majority-shareholder of the cash-strapped National Steel Corp. has asked the Securities and Exchange Commission (SEC) to nullify its order for the liquidation of the company, saying the SEC has no authority...

Business