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Interim Rules of ProcedureOn Corporate Rehabilitation
(2000) 
Rule 1COVERAGE
 SECTION 1.
Scope
— These Rules shall apply to petitions for rehabilitationfiled by corporations, partnerships, and associations pursuant to PresidentialDecree No. 902-A, as amended. SEC. 2.
 Applicability to Rehabilitation Cases Transferred from the Securitiesand Exchange Commission.
— Cases for rehabilitation transferred from theSecurities and Exchange Commission to the Regional Trial Courts pursuant toRepublic Act No. 8799, otherwise known as The Securities Regulation Code,shall likewise be governed by these Rules. 
Rule 2DEFINITION OF TERMS AND CONSTRUCTION
 SECTION 1.
Definition of Terms.
— For purposes of these Rules:
“Administrative Expenses”
shall refer to those expenses incurred inthe ordinary course of business of the debtor after the issuance of thestay order, excluding interest payable to creditors.
“Affidavit of General Financial Condition”
shall refer to a verifiedstatement on the general financial condition of the debtor required insection 2, Rule 4 of these Rules.
“Board of Directors”
shall include the executive committee or themanagement of a partnership or association.
“Claim”
shall include all claims or demands of whatever nature or character against a debtor or its property, whether for money or otherwise.
“Creditor”
shall mean any holder of a Claim.
“Court”
shall refer to the proper Regional Trial Court designated tohear and decide the cases contemplated under these Rules.
“Debtor”
shall mean any corporation, partnership, or association,whether supervised or regulated by the Securities and ExchangeCommission or other government agencies, on whose behalf a petitionfor rehabilitation has been filed under these Rules.
“Stockholder”
shall include a member of a non-stock corporation or 
 
association, or a partner in a partnership. SEC. 2.
Construction
.— These Rules shall be liberally construed to carry outthe objectives of sections 5(d), 6(c) and 6(d) of Presidential Decree No. 902-A,as amended, and to assist the parties in obtaining a just, expeditious, andinexpensive determination of cases. Where applicable, the Rules of Court shallapply suppletorily to proceedings under these Rules.
Rule 3
GENERAL PROVISIONS SECTION 1.
Nature of Proceedings
.— Any proceeding initiated under theseRules shall be considered
in rem
. Jurisdiction over all those affected by theproceedings shall be considered as acquired upon publication of the notice of thecommencement of the proceedings in any newspaper of general circulation in thePhilippines in the manner prescribed by these Rules.The proceedings shall also be summary and non-adversarial in nature. Thefollowing pleadings are prohibited:a.Motion to dismiss;b. Motion for a bill of particulars;c. Motion for new trial or for reconsideration;d. Petition for relief;e. Motion for extension;f. Memorandum;g. Motion for postponement;h. Reply or Rejoinder;i. Third party complaint; and j. Intervention. Any pleading, motion, opposition, defense, or claim filed by any interestedparty shall be supported by verified statements that the affiant has read the sameand that the factual allegations therein are true and correct of his personalknowledge or based on authentic records and shall contain as annexes suchdocuments as may be deemed by the party submitting the same as supportive of the allegations in the affidavits. The court may decide matters on the basis of affidavits and other documentary evidence. Where necessary, the court shallconduct clarificatory hearings before resolving any matter submitted to it for resolution.SEC. 2.
Venue.
— Petitions for rehabilitation pursuant to these Rulesshall be filed in the Regional Trial Court having jurisdiction over the territorywhere the debtor’s principal office is located. SEC. 3.
Service of Pleadings and Documents
.— When so authorized by thecourt, any pleading and/or document required by these Rules may be filed withthe court and/or served upon the other parties by facsimile transmission (fax) or 
 
electronic mail (e-mail). In such cases, the date of transmission shall be deemedto be the date of service. In case of a voluminous pleading or document, thecourt may,
motu proprio
or upon motion, waive the requirement of service,
 provided,
a copy thereof together with all its attachments is duly filed with thecourt and is made available for examination and reproduction by any party, and
 provided, further,
that a notice of such filing and availability is duly served on theparties. SEC. 4.
Trade Secrets and Other Confidential Information
.— On motion or on its own initiative, the court may issue an order to protect trade secrets or other confidential research, development, or commercial information belonging to thedebtor. SEC. 5.
Executory Nature of Orders.
— Any order issued by the court under these Rules is immediately executory. A petition for review or an appealtherefrom shall not stay the execution of the order unless restrained or enjoinedby the appellate court. The review of any order or decision of the court or anappeal therefrom shall be in accordance with the Rules of Court;
Provided,however,
that the reliefs ordered by the trial or appellate courts shall take intoaccount the need for resolution of proceedings in a just, equitable, and speedymanner. 
Rule 4
REHABILITATION 
 SECTION 1.
Who May Petition.
— Any debtor who foresees the impossibilityof meeting its debts when they respectively fall due, or any creditor or creditorsholding at least twenty-five percent (25%) of the debtor’s total liabilities, maypetition the proper Regional Trial Court to have the debtor placed under rehabilitation. SEC. 2.
Contents of the Petition.
— The petition filed by the debtor must beverified and must set forth with sufficient particularity all the following materialfacts: (a) the name and business of the debtor; (b) the nature of the business of the debtor; (c) the history of the debtor; (d) the cause of its inability to pay itsdebts; (e) all the pending actions or proceedings known to the debtor and thecourts or tribunals where they are pending; (f) threats or demands to enforceclaims or liens against the debtor; and (g) the manner by which the debtor maybe rehabilitated and how such rehabilitation may benefit the general body of creditors, employees, and stockholders.The petition shall be accompanied by the following documents:a.An audited financial statement of the debtor at the end of its last fiscalyear;b.Interim financial statements as of the end of the month prior to the filingof the petition;c.Schedule of Debts and Liabilities which lists all the creditors of the
of 00

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