Abstract / Excerpt:

The continued existence or sustainability of a business establishment organized as a corporation is of great concern to its shareholders as well as to society. A business provides income to society in the form of taxes, employment opportunities and support for community projects. It helps sustain community. Thus, when it is threatened by liquidity-related problems, the threat extends to the community.

Full Text

The continued existence or sustainability of a business establishment organized as a corporation is of great concern to its shareholders as well as to society. A business provides income to society in the form of taxes, employment  opportunities and support for community projects. It helps sustain community. Thus, when it is threatened by liquidity-related problems, the threat extends to the community.
Philippine laws governing distressed corporations mirror an attempt to balance the interests of the shareholders/inventors of a corporation with the interests of the community to which it belongs. It is therefore the submission of the authors that, to sustain  a corporation's continued operations and existence, the community must assume a more active role in the resolution of the corporation's liquidity problems. It is in this spirit  that we take a closer look at the legal remedy known as "corporate rehabilitation."

Info

Source Journal	Mindanao Law Journal
Journal Volume	Mindanao Law Journal Vol.1 No.1
Authors	Pilariza Racho-Baldovino, Rollie Duamlag
Page Count	5
Place of Publication	Davao City
Original Publication Date	August 1, 2007
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