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Republic of the Philippines
Supreme Court
Manila
EN BANC
AM. NO. 15-04-06-SC
FINANCIAL LIQUIDATION AND SUSPENSION OF PAYMENTS RULES OF
PROCEDURE FOR INSOLVENT DEBTORS (2015)
RESOLUTION
Whereas, under Republic Act No. 10142, otherwise known as the Financial
Rehabilitation and Insolveney Act of 2010 (FRIA), the Supreme Court shall “promulgate
the rules of pleading, practice and procedure to govern the proceedings brought under
[the] Act!;
Whereas, the Supreme Court, through Memorandum No. 46-2010 dated
September 30, 2010 (as amended by Memorandum Order No. 17-2013 dated May 9,
2013), tasked the Sub-Committee on Commereial Courts to revise and/or amend A.M.
No. 00-8-10-8C or the Rules of Procedure on Corporate Rehabilitation (2008) to
incorporate the significant changes brought about by the enactment of Republic Act No.
10142 on the aspects of financial rehabilitation, insolvency and liquidation;
Whereas, the Supreme Court, through A.M. No. 12-12-11-SC dated August 27,
2013, approved the Financial Rehabilitation Rules of Procedure (2013), otherwise known
as the FR Rules, which incorporated changes pertaining to financial rehabilitation;
NOW, THEREFORE, acting on the recommendation of the Sub-Committee on
Special Commercial Courts, the Court resolved to APPROVE the Financial
Liquidation and Suspension of Payments Rules of Procedure for Insolvent Debtors
2015), otherwise known as the “FLSP Rules”.
The FLSP Rules shall take effect fifteen (15) days following its publication in the
Official Gazette or in two (2) newspapers of national circulation,
April 21, 2015.
Preemie s—
MARIA LOURDES P. A. SERENO
Chief Justice
Section 6, Designation of Courts and Promulgation of Procedural Rules. ~ The Supreme Court shall
designate the court or courts that will hear and resolve cases brought under this Act and shall
promulgate the rules of pleading, practice and procedure to govern the proceedings brought under this
ActCis
ANTONIO T. CARPAO.
Associate Justice
Lirite Lingle he CASTRO
Associate Justice
ws
|. PERALTA,
DIOSDADO
Associate fustice
IENVENIDO L. REYES
Associate Justice
MARVICALY.F. LEON:
Associate Justice
PRESBITERO J. VELASCO, JR.
‘ssociate Justice
Reamer.
Une, D.BRION
Associate Justice
Associate
JOSE CACRAL MENDOZA
Assdajate Justice
ESTELA wh "AS-BERNABE,
Associate Justice
FRANCIS &. JARDELEZA
Associate JusticeRepublic of the Philippines
Supreme Court
Manila
FINANCIAL LIQUIDATION AND SUSPENSION OF PAYMENTS RULES OF
PROCEDURE FOR INSOLVENT DEBTORS (2015)