Bill Type
Congress Name
Long Title
AN ACT PROVIDING FOR THE RECOVERY AND LIQUIDATION OF FINANCIALLY DISTRESSED JURIDICAL ENTITIES
Date filed
August 5, 2004
Scope
Legislative History
| House Bill/Resolution NO. HB02204 |
| FULL TITLE : AN ACT PROVIDING FOR THE RECOVERY AND LIQUIDATION OF FINANCIALLY DISTRESSED JURIDICAL ENTITIES |
| SHORT TITLE : Corporate Recovery and Liquidation Act |
| ABSTRACT : "Corporate Recovery and Liquidation Act." This bill substantiates the policy of the State to encourage a juridical debtor and its creditors to collectively and realistically resolve and adjust competing claims and property rights under the supervision and approval of a court when the debtor can no longer pay its debts as they come due or when the debtor has become insolvent. |
| PRINCIPAL AUTHOR/S : LOPEZ, JAIME C. |
| DATE FILED : 2004-08-05 |
| SIGNIFICANCE: NATIONAL |
| ACTIONS TAKEN BY THE COMMITTEE ON RULES |
| REFERRAL TO THE COMMITTEE ON BANKS AND FINANCIAL INTERMEDIARIES ON 2004-08-11 |
| SECONDARILY REFERRED TO THE COMMITTEE(S) ON ECONOMIC AFFAIRS |
Abstract
"Corporate Recovery and Liquidation Act." This bill substantiates the policy of the State to encourage a juridical debtor and its creditors to collectively and realistically resolve and adjust competing claims and property rights under the supervision and approval of a court when the debtor can no longer pay its debts as they come due or when the debtor has become insolvent.'
Disclaimer
Note: Legislative history and other information accessed from Congress Legis. Information as of April 20, 2022.