Seminar on the Rules of Procedure on Financial Rehabilitation
On February 19, 2014, the PHILJA conducted the Seminar on the Rules of Procedure on Financial Rehabilitation in partnership with the Supreme Court Subcommittee on Commercial Courts, United States Agency for International Development and the American Bar Association—Rule of Law Initiative. The seminar served as a forum where judges, practitioners and interested parties can share their experiences and help one another resolve difficult legal issues in rehabilitation cases with the end goal of enhancing the capacity of justices and special commercial court judges in the efficient, effective and expeditious disposition of commercial disputes. In attendance are 45 participants composed of Court of Appeals-Cebu justices, special commercial court judges of Regions VI, VII and VIII and selected members of the Integrated Bar of the Philippines. This seminar is the first of its kind after the Court’s approval of the Financial Rehabilitation Rules of Procedure in October 2013.
Topics discussed during the seminar were Overview of the 2013 Financial Rehabilitation Rules (FR Rules); Court-Supervised Rehabilitation; Pre-Negotiated and Out-of-Court Rehabilitation; Cross-Border Rehabilitation; and Updates and Jurisprudence on Corporate Rehabilitation. A panel discussion that provided clarification and comments on, and answers to questions, problems, issues and concerns raised by participants during the levelling-off sessions, capped the substantive sessions of the seminar. All participants found the seminar profitable and enriching.