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Insolvency and Restructuring

Insolvency and Restructuring Philippine Chapter

Insolvency and Restructuring |

INSOLVENCY AND RESTRUCTURING 
Philippine Chapter 
 
Insolvency, as a subject, is not new to the Philippine legal system.  
 
Through its Civil Code, the Philippines has long acknowledged a debtor’s personal liability with all his property, present and future, for the fulfillment of his obligations.  
 
Specific to the question of insolvency, however, the Insolvency Law was the first of its kind within the country to provide remedies availing to the insolvent debtor. Enacted on May 20, 1909, this law remained effective for over a century until it was expressly repealed by Republic Act No....