Bill Type
Congress Name
Long Title
AN ACT PROVIDING FOR THE REHABILITATION OR LIQUIDATION OF FINANCIALLY DISTRESSED ENTERPRISES
Date filed
July 2, 2007
Scope
Legislative History
| House Bill/Resolution NO. HB00132 |
| FULL TITLE : AN ACT PROVIDING FOR THE REHABILITATION OR LIQUIDATION OF FINANCIALLY DISTRESSED ENTERPRISES |
| SHORT TITLE : "Corporate Recovery and Insolvency Act of 2007" |
| ABSTRACT : "Corporate Recovery and Insolvency Act of 2007". The bill establishes a framework for insolvency proceeding and provides an equitable treatment to all parties involved in a financial restructuring or rehabilitation. It provides ailing companies four remedies: a) fast-track rehabilitation, b) court-supervised rehabilitation, c) pre-negotiated rehabilitation, and d) dissolution-liquidation. |
| PRINCIPAL AUTHOR/S : ANGARA, JUAN EDGARDO M. |
| DATE FILED : 2007-07-02 |
| SIGNIFICANCE: NATIONAL |
| ACTIONS TAKEN BY THE COMMITTEE |
| COMMITEE HEARINGS/ACTIONS: |
| 1. |
| 2. Scheduled for first meeting/hearing on 2008-12-02 |
| 3. Approved by the Committee on 2008-12-16 |
| 4. Approved by the Committee on 2008-12-16 |
| MOTHER BILL: HB07090 |
| ACTIONS TAKEN BY THE COMMITTEE ON RULES |
| REFERRAL TO THE COMMITTEE ON ECONOMIC AFFAIRS ON 2008-08-12 |
| SECONDARILY REFERRED TO THE COMMITTEE(S) ON BANKS AND FINANCIAL INTERMEDIARIES |
| PREVIOUS COMMITTEE REFERRALS :PRIMARILY REFERRED TO BANKS AND FINANCIAL INTERMEDIARIES on 2007-07-24; |
Abstract
"Corporate Recovery and Insolvency Act of 2007". The bill establishes a framework for insolvency proceeding and provides an equitable treatment to all parties involved in a financial restructuring or rehabilitation. It provides ailing companies four remedies: a) fast-track rehabilitation, b) court-supervised rehabilitation, c) pre-negotiated rehabilitation, and d) dissolution-liquidation.
Disclaimer
Note: Legislative history and other information accessed from Congress Legis. Information as of April 20, 2022.