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Rules of Procedure in Environmental Cases
rules of procedure
1
EN BANCAgenda for December 2, 2008Item No. 76EN BANC
A.M. NO. 00-8-10-SC
RULES OF PROCEDURE ON CORPORATE REHABILITATION
RESOLUTION
Acting on the recommendation of The Subcommittee on SpecialRules for Special Commercial Courts, submitting for the consideration andapproval of the Court the proposed “Rules of Procedure on CorporateRehabilitation (2008),” the Court Resolved to
APPROVE
the same.The Rule shall take effect on January 16, 2009 following itspublication in two (2) newspapers of general circulation.December 2, 2008.REYNATO S. PUNO
Chief Justice
LEONARDO A. QUISUMBING
Associate Justice
CONSUELO YNARES-SANTIAGO
Associate Justice
ANTONIO T. CARPIO
Associate Justice
MA. ALICIA AUSTRIA-MARTINEZ
Associate Justice
2
RENATO C. CORONA
Associate Justice
CONCHITA CARPIO MORALES
Associate Justice
ADOLFO S. AZCUNA
Associate Justice
DANTE O. TINGA
Associate Justice
MINITA V. CHICO-NAZARIO
Associate Justice
PRESBITERO J. VELASCO, JR.
Associate Justice
ANTONIO EDUARDO B. NACHURA
Associate Justice
TERESITA J. LEONARDO DE CASTRO
Associate Justice
RUBEN T. REYES
Associate Justice
ARTURO D. BRION
Associate Justice
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RULES OF PROCEDURE ONCORPORATE REHABILITATION (2008)
RULE 1COVERAGESECTION 1.
Scope
.—These Rules shall apply to petitions forrehabilitation of
corporations, partnerships and associations pursuant toPresidential Decree No. 902-A, as amended.SEC. 2.
Applicability to Rehabilitation Cases Transferred from theSecurities and Exchange Commission
.—Cases for rehabilitation transferredfrom the Securities and Exchange Commission to the Regional Trial Courtspursuant to Republic Act No. 8799, otherwise known as The SecuritiesRegulation Code, shall likewise be governed by these Rules.RULE 2DEFINITION OF TERMS AND CONSTRUCTIONSEC. 1.
Definition of Terms
.—For purposes of these Rules:“
Administrative Expenses
” shall refer to (a) reasonable and necessary
expenses that are incurred in connection with the filing of the petition; (b)expenses incurred in the ordinary course of business after the issuance of the stay order, excluding interest payable to the creditors for loans andcredit accommodations existing at the time of the issuance of the stayorder; and (c) other expenses that are authorized under these Rules.“
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.“
Affiliate
”
is a corporation that directly or indirectly, through one ormore intermediaries, is controlled by, or is under the common control of another corporation, which thereby becomes its parent corporation.“
Asset
” is anything of value that can be in the form of money, suchas cash at the bank or amounts owed; fixed assets such as property orequipment; or intangibles including intellectual property, the book value of which is shown in the last three audited financial statements immediately
of 00
A.M.NO.00-8-10-SC
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