Bill Type
Congress Name
Long Title
FULL TITLE : AN ACT INSTITUTING WORKER'S CLAIM AS STATUTORY FIRST LIEN ON THE ASSETS OF THE BANKRUPT EMPLOYER, AMENDING FOR THIS PURPOSE ARTICLE 110 OF PRESIDENTIAL DECREE NO. 442, AS AMENDED, OTHERWISE KNOWN AS THE LABOR CODE OF THE PHILIPPINES
Text as filed (link)
Date filed
February 1, 2017
Scope
Legislative History
| House Bill/Resolution NO. HB04931 |
| FULL TITLE : AN ACT INSTITUTING WORKER'S CLAIM AS STATUTORY FIRST LIEN ON THE ASSETS OF THE BANKRUPT EMPLOYER, AMENDING FOR THIS PURPOSE ARTICLE 110 OF PRESIDENTIAL DECREE NO. 442, AS AMENDED, OTHERWISE KNOWN AS THE LABOR CODE OF THE PHILIPPINES |
| SHORT TITLE : " Worker's First Lien In Bankruptcy Act " |
| ABSTRACT : Seeks to institutionalize jurisprudence upholding the principle that worker's unpaid wages and benefits and/or money claims enjoy preference over all other claims of creditors and the government even without formal declaration of bankruptcy or insolvency by an employer's business. |
| PRINCIPAL AUTHOR/S : MENDOZA, RAYMUND DEMOCRITO C. |
| DATE FILED : 2017-02-01 |
| SIGNIFICANCE: NATIONAL |
| ACTIONS TAKEN BY THE COMMITTEE ON RULES |
| REFERRAL TO THE COMMITTEE ON LABOR AND EMPLOYMENT ON 2017-02-08 |
Abstract
Seeks to institutionalize jurisprudence upholding the principle that worker's unpaid wages and benefits and/or money claims enjoy preference over all other claims of creditors and the government even without formal declaration of bankruptcy or insolvency by an employer's business.
Disclaimer
Note: Legislative history and other information accessed from Congress Legis. Information as of April 20, 2022.