Interim Rules of Procedure on Corporate Rehabilitation
On August 22, 2000, the Philippine Supreme Court issued a resolution concerning the transfer of intra-corporate cases from the Securities and Exchange Commission (SEC) to Regional Trial Courts, as mandated by R.A. No. 8799. The Court directed the SEC and the Court Administrator to compile and transfer relevant case records, ensuring they are grouped by the location of the plaintiffs for venue purposes. If a particular venue group contains more than fifty cases, the Court Administrator is to recommend the establishment of special commercial courts. The transfer process is to be completed within sixty days, with an inventory report submitted to the Court.
August 22, 2000
A.M. No. 00-8-10-SC
Gentlemen:
Quoted hereunder, for your information, is a resolution of the Court En Banc dated 22 August 2000
A.M. No. 00-8-10-SC. — In Re: Transfer of Cases from the Securities and Exchange Commission to the Regular Courts Pursuant to R.A. No. 8799.
The Court RESOLVED to (a) NOTE the letter dated 11 August 2000 of Chairperson Lilia R. Bautista of the Securities and Exchange Commission with the enclosed partial list of intra-corporate cases for the years 1995 and 1998 to 2000, inclusive, which will be transferred to the Regional Trial Court pursuant to R.A. No. 8799; and (b) DIRECT the Court Administrator and the Securities and Exchange Commission to cause the actual transfer of the records of such cases and all other SEC cases affected by R.A. No. 8799 to the appropriate Regional Trial Courts, subject to the following guidelines:
1. Within forty-five (45) days from receipt of a copy of this Resolution the Court Administrator and the Securities and Exchange Commission shall submit an inventory of all SEC cases for transfer to the Regional Trial Courts, grouping together therein, for venue purposes, cases where the residences, principal offices or business addresses of the plaintiffs, petitioners or complainants are located in the same place, (e.g., all those cases where plaintiffs reside or have principal offices or business addresses in Manila should be placed under the heading MANILA). STcDIE
2. In the meantime, if on the basis of the inventory more than fifty (50) cases fall within a particular venue group, the Court Administrator shall recommend to the Court En banc the designation of special commercial courts therein.
3. The records of cases classified under a specific venue group (e.g., Manila, Quezon City, Cebu City) shall be transmitted to the Executive Judge of the Regional Trial Court in the place for raffle between or among the different branches thereof. However, if a specific branch thereof has been designated as a special commercial court the cases should be transmitted to said special commercial court.
The Court Administrator and the Securities and Exchange Commission shall submit their report in compliance with this Resolution within sixty (60) days from receipt of a copy of this Resolution.
Very truly yours,
(SGD.) LUZVIMINDA D. PUNOClerk of Court
By:
(SGD.) MA. LUISA D. VILLARAMAAssistant Clerk of CourtSupreme Court of the Philippines