Receivership
The above presentation isn't supposed to preempt PAL Holdings in challenge it rehabilitation. This is the reason Due Diligencer used the numbers indexed on the PSE internet site and the records the agency utilized in its unaudited first-zone monetary filing.
Rehabilitation is simplest a part of the whole system of reviving financially distressed corporations, whether or not or now not their shares are indexed.
Time turned into while receivership turned into under the jurisdiction of the Securities and Exchange Commission. In 2001, the amended securities law took away certain functions of the commission and transferred them to everyday courts.
Rehabilitation best accompanied the suspension of payments. This meant that a set of stockholders had the choice of petitioning the SEC that it's allowed to suspend payments of liabilities.
Only when the SEC decided to grant the petition could the hearing officials, who used to act as judges, form a receivership committee. This committee would determine the feasibility of both putting a corporation again to lifestyles or ordering a liquidation.
The above presentation isn't supposed to preempt PAL Holdings in challenge it rehabilitation. This is the reason Due Diligencer used the numbers indexed on the PSE internet site and the records the agency utilized in its unaudited first-zone monetary filing.
Rehabilitation is simplest a part of the whole system of reviving financially distressed corporations, whether or not or now not their shares are indexed.
Time turned into while receivership turned into under the jurisdiction of the Securities and Exchange Commission. In 2001, the amended securities law took away certain functions of the commission and transferred them to everyday courts.
Rehabilitation best accompanied the suspension of payments. This meant that a set of stockholders had the choice of petitioning the SEC that it's allowed to suspend payments of liabilities.
Only when the SEC decided to grant the petition could the hearing officials, who used to act as judges, form a receivership committee. This committee would determine the feasibility of both putting a corporation again to lifestyles or ordering a liquidation.
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