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European Union (EU) Justice Ministers Friday reached a agreement on new rules to deal with cross-border insolvency issue, aiming at helping businesses overcome financial difficulties.

                    [DatePublished] => 2014-06-06 23:30:00
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                    [Title] => BSP bats for more reforms Stronger insolvency framework pushed
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The Bangko Sentral ng Pilipinas (BSP) said the country needs a stronger insolvency framework to reduce the losses incurred by the bankrupt firms’ creditors.

                    [DatePublished] => 2013-12-04 00:00:00
                    [ColumnID] => 0
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                    [AuthorName] => Kathleen A. Martin
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                    [Title] => Banks say new law to spur lending
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                    [AuthorName] => Lawrence Agcaoili
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                    [Title] => Angara files bill to update 100-year old bankruptcy law
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MANILA, Philippines - Sen. Edgardo Angara has filed a bill seeking to update the country’s 100-year-old bankruptcy law, saying failure to do so could be harmful to the economy and financial system especially during this time of global financial crisis.
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                    [Title] => Resuscitate not liquidate
                    [Summary] => Two years ago, the World Bank gave the Philippines the notorious reputation of having the worst creditor protection system in the region.


According to the World Bank survey, the Philippines ranked poorest compared to other Southeast Asian countries like Hong Kong, Singapore, Malaysia and even Indonesia. The survey pointed out that existing laws tend to favor irresponsible borrowers, and thus leave creditor banks holding the empty bag.


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INSOLVENCY

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                    [Title] => EU ministers back proposal to modernize cross-border insolvency rules
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The Bangko Sentral ng Pilipinas (BSP) said the country needs a stronger insolvency framework to reduce the losses incurred by the bankrupt firms’ creditors.

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                    [Title] => Resuscitate not liquidate
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According to the World Bank survey, the Philippines ranked poorest compared to other Southeast Asian countries like Hong Kong, Singapore, Malaysia and even Indonesia. The survey pointed out that existing laws tend to favor irresponsible borrowers, and thus leave creditor banks holding the empty bag.


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abtest

EU ministers back proposal to modernize cross-border insolvency rules

June 6, 2014 - 11:30pm

European Union (EU) Justice Ministers Friday reached a agreement on new rules to deal with cross-border insolvency issue, aiming at helping businesses overcome financial difficulties.

World

BSP bats for more reforms Stronger insolvency framework pushed

By Kathleen A. Martin | December 4, 2013 - 12:00am

The Bangko Sentral ng Pilipinas (BSP) said the country needs a stronger insolvency framework to reduce the losses incurred by the bankrupt firms’ creditors.

Business

Banks say new law to spur lending

By Lawrence Agcaoili | January 14, 2010 - 12:00am

Banks believe that the passage of a landmark piece of legislation that seeks to improve the country’s vintage insolvency law would spur bank lending in the Philippines.

Business

Angara files bill to update 100-year old bankruptcy law

By Aurea Calica | April 13, 2009 - 12:00am

MANILA, Philippines - Sen. Edgardo Angara has filed a bill seeking to update the country’s 100-year-old bankruptcy law, saying failure to do so could be harmful to the economy and financial system especially...

Business

Resuscitate not liquidate

By Rey Gamboa | November 15, 2002 - 12:00am

Two years ago, the World Bank gave the Philippines the notorious reputation of having the worst creditor protection system in the region. According to the World Bank survey, the Philippines ranked poorest compared...

Business