Bill Type
Long Title
AN ACT PROVIDING FOR THE RECOVERY OF FINANCIALLY DISTRESSED ENTERPRISES AND THE RESOLUTION OF THEIR INDEBTEDNESS (RE:CORPORATE RECOVERY ACT)
Date filed
July 20, 2000
Scope
Urgent Bill
No
Legislative History
| House Bill/Resolution NO. HB11867 |
| FULL TITLE : AN ACT PROVIDING FOR THE RECOVERY OF FINANCIALLY DISTRESSED ENTERPRISES AND THE RESOLUTION OF THEIR INDEBTEDNESS (RE:CORPORATE RECOVERY ACT) |
| ABSTRACT : "Corporate Recovery Act." This bill represents a comprehensive approach to the complex problems faced by enterprises when they, for whatever reason, can no longer pay their debts. It combines the creation of substative rights with relatively detailed procedural guidelines that move cases through court-supervise d proceedings quickly. It emphasizes the survival of the enterprise while at the same time keeping paramount the rights of creditors with duly registered liens against the enterprise'sassets. |
| PRINCIPAL AUTHOR/S : FAJARDO, PACIFICO M. |
| DATE FILED : 2000-07-20 |
| SIGNIFICANCE: NATIONAL |
| CO-AUTHORS : |
| 1. |
| ADMINISTRATION BILL? No |
| URGENT BILL? No |
| ACTIONS TAKEN BY THE COMMITTEE ON RULES |
| REFERRAL TO THE COMMITTEE ON JUSTICE ON 2000-07-26 |
| SECONDARILY REFERRED TO THE COMMITTEE(S) ON GOVERNMENT ENTERPRISES AND PRIVATIZATION |
Abstract
"Corporate Recovery Act." This bill represents a comprehensive approach to the complex problems faced by enterprises when they, for whatever reason, can no longer pay their debts. It combines the creation of substative rights with relatively detailed procedural guidelines that move cases through court-supervise d proceedings quickly. It emphasizes the survival of the enterprise while at the same time keeping paramount the rights of creditors with duly registered liens against the enterprise'sassets.
Disclaimer
Note: Legislative history and other information accessed from Congress Legis. Information as of April 20, 2022.