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Financial Rehabilitation and Insolvency Act of 2010, Republic Act No. 10142 (Philippines)

Domestic Law | Laws | 18 July 2010

The Financial Rehabilitation and Insolvency Act (FRIA) of 2010 enumerates, defines and provides for the processes for the three (3) types of rehabilitation: 

  1. Court-supervised rehabilitation
  2. Out-of-court informal restructuring agreements or rehabilitation plans
  3. Pre-negotiated rehabilitation

The FRIA further defines and provides for the laws on liquidation in insolvency of individual and juridical debtors.

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