I often come across debtors dropping the hint of filing, or actually filing, a case for insolvency or bankruptcy just to bring home the (alleged) point that they have nothing more to cough out. It is true that once a petition for insolvency is granted, the debtor-insolvent is discharged from all his existing debts. The [...]
Archive for the 'Corporate and Investments' Category
Criminal Cases and Insolvency
Published by June 25th, 2007 in Banking, Corporate and Investments and Criminal Law. 0 CommentsAdditional Rules on Temporary Restraining Orders (TRO) on Foreclosures of Real Estate Mortgage
Published by February 27th, 2007 in Corporate and Investments, Litigation and Labor Law and Obiter/News. 3 CommentsThe Supreme Court has issued additional guidelines on the issuance of temporary restraining orders or writs of preliminary injunctions enjoining foreclosures of real estate mortgages. The additional rules will take effect on March 10, 2007.
Here’s the full text of AM No. 99-10-05-O (Re: Procedure in Extrajudicial Or Judicial Foreclosure of Real Estate Mortgages, [...]
“No Return, No Exchange” store policy prohibited
Published by November 9th, 2006 in Corporate and Investments. 3 CommentsQ: What is the legal basis of the prohibition on “No Return, No Exchange” Policy of business establishments?
A: Pursuant to the Implementing Rules and Regulations of R.A. 7394, or the Consumer Act of the Philippines, specifically Title III, Chapter I, Rule 2, Section 7 of Department Administrative Order (DAO) No. 2, series 1993, the words [...]
DTI disallows higher price of purchases paid through cards
Published by November 3rd, 2006 in Corporate and Investments. 2 CommentsLast month, the Department of Trade and Industry (DTI) issued Administrative Order No. 10 (series of 2006), which prohibits, among others, the imposition of a surcharge, extra charge or additional charge in the use of credit cards, automated teller machine (ATM) cards and debit cards for payment of purchases of consumer products or services. In [...]
Management and HR Tools
Published by October 12th, 2006 in Corporate and Investments and Litigation and Labor Law. 2 CommentsOne of the major concerns of employers is labor, and it doesn’t matter if the employer is a big corporation with a Human Resources (HR) department or simply an entrepreneur/small and medium enterprise (SME). The employer hires, pays, manages, disciplines and fires employees. Problems inevitably arise in the process, and, based on the full-packed hallways [...]
Excessive and unconscionable interest rate
Published by September 19th, 2006 in Banking and Corporate and Investments. 5 CommentsWith the suspension of the Usury Law and the removal of interest ceilings, the parties are generally free to stipulate the interest rates to be imposed on monetary obligations. As a rule, the interest rate agreed by the creditor and the debtor is binding upon them. This rule, however, is not absolute.
In a recent case, [...]
Business Philippines, Helpful Government Sites
Published by September 15th, 2006 in Corporate and Investments. 0 CommentsThere are formal learning institutions dealing in all aspects of business. There are Big Businesses dominating our economy. Of course, there are Pinoys who are very lucky to have graduated from these prestigious institutions and work for or with the Big Businesses. However, outside of formal learning institutions, budding Pinoy entrepreneurs refer to materials [...]
Networking, Pyramiding and Multi-Level Marketing (MLM)
Published by September 1st, 2006 in Corporate and Investments. 0 CommentsThe concept of networking, whether in the virtual or real world, is basically the same. The purposes may be different (e.g., professional, personal, business, dating), but the general concept is the same - to link people/entities for optimum utilization of resources. In the real world (and in this side of the world), we have been [...]
Reinstatement Pending Appeal: Waiting for the Pendulum to Swing
Published by August 24th, 2006 in Corporate and Investments and Litigation and Labor Law. 2 Comments(Published in Personnel Management Association of the Philippines [PMAP] IR Focus, Issue No. 6)
In many warm mornings on my way to the National Labor Relations Commission (NLRC), I would sometimes daydream of lounging on a beach somewhere, rather than confronting another labor-management conflict. As sure as the sun rises, however, sparks in the constant tug-of-war [...]
Fixing the principal place of business: “Metro Manila†no longer allowed
Published by August 12th, 2006 in Corporate and Investments and Litigation and Labor Law. 0 CommentsCorporations are no longer allowed to use “Metro Manila†as a principal place of business in the Articles of Incorporation (â€AOIâ€), as provided under Memorandum Circular No. 3 (26 January 2006) of the Securities and Exchange Commission (SEC).
Prior to this Circular, corporations located within Metro Manila usually indicate “Metro Manilaâ€, without specifying the city or [...]
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