EVENT BRIEF

PROPOSED TITLE:

REPUBLIC ACT No. 10142: A REMEDY FOR FINANCIALLY

DISTRESSED ENTERPRISES AND INDIVIDUALS AT THE TIME
OF COVID-19?

DESCRIPTION:

Otherwise known as the Financial Rehabilitation and Insolvency Act

(FRIA) of 2010, Republic Act No. 10142 provides for the rehabilitation
or liquidation of financially-burdened persons, juridical and natural.
With the economic and financial repercussions of the COVID-19
pandemic, this law may pave the way for businesses and business
owners to rehabilitate or liquidate their holdings while at the same
time ensuring equitable treatment of creditors, with a view of
ensuring or maintaining certainty and predictability in commercial
affairs, and preserving and maximizing the value of the assets of
these debtors/businesses/business owners.

SPEAKER:

Atty. Kenneth O. Tamala, MBA

Education: Bachelor of Science in Business Management, Xavier

University (undergraduate); Bachelor of Laws, Xavier University
(graduate); and, Master in Business Administration, Xavier
University (graduate).

Senior Partner of BACAL, NAMALATA, TAMALA, PALLUGNA,

QUIMPO, BIDAD, BENITEZ, BETE AND ESCALANTE LAW
(formerly BNTB Law)