Amendment of A.M. No. 03-03-03-SC Dated June 17, 2003, for the Expansion of the Coverage of Cases Cognizable by Special Commercial Courts to Include All Cases on Insolvency and Liquidation under the FRIA
The Supreme Court of the Philippines has amended A.M. No. 03-03-03-SC to expand the jurisdiction of Special Commercial Courts to include all cases related to insolvency and liquidation under the Financial Rehabilitation and Insolvency Act (FRIA). This resolution allows these courts to hear cases involving the rehabilitation of sole proprietorships, as well as the insolvency and liquidation of corporations and partnerships. It also addresses gaps in venue by permitting cases to be filed in the nearest Special Commercial Court when no designated court exists in a specific territory. The amendment aims to streamline court processes and ensure efficient handling of these commercial cases. The resolution will take effect fifteen days after its publication.
Quick Answers
- What is Amendment of A.M. No. 03-03-03-SC Dated June 17, 2003, for the Expansion of the Coverage of Cases Cognizable by Special Commercial Courts to Include All Cases on Insolvency and Liquidation under the FRIA about?
- The Supreme Court of the Philippines has amended A.M. No. 03-03-03-SC to expand the jurisdiction of Special Commercial Courts to include all cases related to insolvency and liquidation under the Financial Rehabilitation and Insolvency Act (FRIA). This resolution allows these courts to hear cases involving the rehabilitation of sole proprietorships, as well as the insolvency and liquidation of corporations and partnerships. It also addresses gaps in venue by permitting cases to be filed in the nearest Special Commercial Court when no designated court exists in a specific territory. The amendment aims to streamline court processes and ensure efficient handling of these commercial cases. The resolution will take effect fifteen days after its publication.
- What type of law is <--!11162015-->A.M. No. 03-03-03-SC?
- Amendment of A.M. No. 03-03-03-SC Dated June 17, 2003, for the Expansion of the Coverage of Cases Cognizable by Special Commercial Courts to Include All Cases on Insolvency and Liquidation under the FRIA (<--!11162015-->A.M. No. 03-03-03-SC) is a Philippine Supreme Court Issuances enacted by the Congress of the Philippines.
- When was Amendment of A.M. No. 03-03-03-SC Dated June 17, 2003, for the Expansion of the Coverage of Cases Cognizable by Special Commercial Courts to Include All Cases on Insolvency and Liquidation under the FRIA enacted?
- Amendment of A.M. No. 03-03-03-SC Dated June 17, 2003, for the Expansion of the Coverage of Cases Cognizable by Special Commercial Courts to Include All Cases on Insolvency and Liquidation under the FRIA (<--!11162015-->A.M. No. 03-03-03-SC) was enacted on Nov 16, 2015.
- What is the citation for Amendment of A.M. No. 03-03-03-SC Dated June 17, 2003, for the Expansion of the Coverage of Cases Cognizable by Special Commercial Courts to Include All Cases on Insolvency and Liquidation under the FRIA?
- Amendment of A.M. No. 03-03-03-SC Dated June 17, 2003, for the Expansion of the Coverage of Cases Cognizable by Special Commercial Courts to Include All Cases on Insolvency and Liquidation under the FRIA, <--!11162015-->A.M. No. 03-03-03-SC, Nov 16, 2015 (Philippines)
Law Information
- Reference Number
- <--!11162015-->A.M. No. 03-03-03-SC
- Date Enacted
- Category
- Supreme Court Issuances
- Subcategory
- Resolutions
- Jurisdiction
- Philippines
- Enacting Body
- Congress of the Philippines
Full Law Text
November 16, 2015
EN BANC
A.M. No. 03-03-03-SC
AMENDMENT OF A.M. NO. 03-03-03-SC DATED JUNE 17, 2003, FOR THE EXPANSION OF THE COVERAGE OF CASES COGNIZABLE BY SPECIAL COMMERCIAL COURTS TO INCLUDE ALL CASES ON INSOLVENCY AND LIQUIDATION UNDER THE FRIA
RESOLUTION
WHEREAS, Section 6 of Republic Act (R.A.) No. 10142, otherwise known as the Financial Rehabilitation and Insolvency Act of 2010 (the FRIA) empowers the Supreme Court to designate the courts that will hear and resolve cases brought thereunder and to promulgate the rules of pleading, practice, and procedure that will govern such proceedings;
WHEREAS, in view of the passage of R.A. No. 8799, which transferred the jurisdiction of the Securities and Exchange Commission over all cases enumerated under Section 5 of Presidential Decree No. 902-A, including cases involving rehabilitation of corporations, partnerships, and other associations, to the Regional Trial Courts, A.M. No. 03-03-03-SC dated June 17, 2003 designated Special Commercial Courts to handle these cases, as well as intellectual property cases;
WHEREAS, A.M. No. 03-03-03-SC needs to be further strengthened in order to address the gaps in venue caused by the limited number of designated Special Commercial Courts per judicial region;
WHEREAS, Sections 18 and 23 of Batas Pambansa Bilang 129 (The Judiciary Reorganization Act of 1980) authorize the Supreme Court to define the territorial authority of the branches of the Regional Trial Court to allow better access to justice;
WHEREAS, cases governed by the FRIA for (1) the rehabilitation of sole proprietorships, (2) insolvency and liquidation of corporations, partnerships and other associations, and (3) insolvency and suspension of payments/discharge of individuals, are likewise special cases that are commercial in nature;
WHEREAS, liquidation cases emanating from administrative proceedings, not from the FRIA, are likewise commercial in nature: TCAScE
WHEREAS, to streamline the court structure and promote expediency and efficiency in handling special commercial cases, the exercise of jurisdiction to hear and decide all rehabilitation, insolvency and liquidation cases brought under the FRIA and those emanating from administrative proceedings are best consolidated under the Special Commercial Courts.
NOW, THEREFORE, the Court Resolves:
1. That (1) cases governed by the FRIA for (a) the rehabilitation of sole proprietorships, (b) the insolvency and liquidation cases of corporations, partnerships and other associations, and (c) insolvency and suspension of payments/discharge of individuals, and (2) those liquidation cases emanating from administrative proceedings shall be heard and decided by the designated Special Commercial Courts;
2. Upon the effectivity of this Resolution, all newly filed and pending cases mentioned in the immediately preceding paragraph shall be assigned or transferred to the designated Special Commercial Courts having territorial jurisdiction over them;
3. When there is no Special Commercial Court designated to hear and decide a case filed within a specific territory in accordance with the existing rules on venue, the case may be filed in the nearest designated Special Commercial Court within the judicial region of said territory; and
4. In order to ensure a just and equitable distribution of cases, the designated Special Commercial Courts shall continue to participate in the raffle of other cases. Provided, however, that the Executive Judge concerned shall adopt a procedure whereby every rehabilitation, insolvency or liquidation case assigned or transferred to a Special Commercial Court shall be duly credited to such court.
This Resolution shall take effect fifteen (15) days following its publication in the Official Gazette or in two (2) newspapers of national circulation.
(SGD.) MARIA LOURDES P.A. SERENOChief Justice
(SGD.) ANTONIO T. CARPIOAssociate Justice
(SGD.) PRESBITERO J. VELASCO, JR.Associate Justice
(SGD.) TERESITA J. LEONARDO-DE CASTROAssociate Justice
(SGD.) ARTURO D. BRIONAssociate Justice
(SGD.) DIOSDADO M. PERALTAAssociate Justice
(SGD.) LUCAS P. BERSAMINAssociate Justice
(SGD.) MARIANO C. DEL CASTILLOAssociate Justice
(SGD.) MARTIN S. VILLARAMA, JR.Associate Justice
(SGD.) JOSE PORTUGAL PEREZAssociate Justice
(SGD.) JOSE CATRAL MENDOZAAssociate Justice
(SGD.) BIENVENIDO L. REYESAssociate Justice
(SGD.) ESTELA M. PERLAS-BERNABEAssociate Justice
(SGD.) MARVIC M.V.F. LEONENAssociate Justice
(SGD.) FRANCIS H. JARDELEZAAssociate Justice
Published in The Philippine Star on January 14, 2016.
Cite This Law
Amendment of A.M. No. 03-03-03-SC Dated June 17, 2003, for the Expansion of the Coverage of Cases Cognizable by Special Commercial Courts to Include All Cases on Insolvency and Liquidation under the FRIA, <--!11162015-->A.M. No. 03-03-03-SC, Nov 16, 2015 (Philippines)
Amendment of A.M. No. 03-03-03-SC Dated June 17, 2003, for the Expansion of the Coverage of Cases Cognizable by Special Commercial Courts to Include All Cases on Insolvency and Liquidation under the FRIA, <--!11162015-->A.M. No. 03-03-03-SC (Phil. 2015)
Related Laws
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- Amendment of A.M. No. 03-03-03-SC Dated June 17, 2003, for the Expansion of the Coverage of Cases Cognizable by Special Commercial Courts to Include All Cases Governed by the Fria, Liquidation Cases Emanating from Administrative Proceedings, and Dissolution and Liquidation of Partnerships under the Civil Code<--!06212016-->A.M. No. 03-03-03-SC • Jun 21, 2016 • Supreme Court Issuances
- Resolution Dated 21 June 2016 in A.M. No. 03-03-03-SC (Amendment of A.M. 03-03-03-SC Dated June 17, 2003, for the Expansion of the Coverage of Cases Cognizable by Special Commercial Courts to Include All Cases Governed by the FRIA, Liquidation Cases Emanating from Administrative Proceedings, and Dissolution and Liquidation of Partnerships under the Civil Code)OCA Circular No. 176-2016 • Jul 28, 2016 • Supreme Court Issuances
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- Expansion of Coverage of Cases Cognizable by Special Commercial CourtsOCA Circular No. 206-15 • Sep 8, 2015 • Supreme Court Issuances
- Resolution Dated 9 November 2021 in A.M. No. 03-03-03-SC (Inclusion of Anti-Money Laundering Cases in the Coverage of Cases Cognizable by Special Commercial CourtsOCA Circular No. 60-2022 • Mar 21, 2022 • Supreme Court Issuances
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