OCA CIRCULARS NO. 76-2002, December 11, 2002
OCA CIRCULARS NO. 76-2002, December 11, 2002
| TO: |
ALL EXECUTIVE JUDGES AND CLERKS OF COURT IN THE REGIONAL TRIAL COURTS
|
|
SUBJECT:
|
AMENDMENT ON THE CLARIFICATION ON
THE LEGAL FEES TO BE COLLECTED IN CASES OF CORPORATE REHABILITATION AS PROVIDED IN A.M.NO.00-8-10-SC |
- Rates of Filing Fee.-
For initiating special proceedings for rehabilitation
under the Interim Rules of Procedure on Corporate Rehabilitation, the
fees payable shall be collected in accordance with the value of the
assets of, or amount of monetary claims against, the debtor, whichever
is lower, which must be declared in the Petition, as follows:
| 1.1. | Less than P10,000,000.00 |
10,000.00
|
| 1.2 | P10,000,000.00 or more but less than P20.000.000.00.. |
20,000.00
|
| 1.3 | P20,000,000.00 or more but less than P30,000,000.00.. |
30,000.00
|
| 1.4 | P30,000,000.00 or more but less than P40.000.000.00.. |
40,000.00
|
| 1.5 | P40,000,000.00 or more but less than P50.000.000.00.. |
50,000.00
|
| 1.6 | P50,000,000.00 or more but less than P60,000,000.00.. |
60,000.00
|
| 1.7 | P60,000,000.00 or more but less than P70,000,000.00.. |
70,000.00
|
| 1.8 | P70,000,000.00 or more but less than P80,000,000.00.. |
80,000.00
|
| 1.9 | P80,000,000.00 or more but less than P90,000,000.00.. |
90,000.00
|
| 1.10 | P90,000,000.00 or more but less than P100,000,000.00.. |
1000,000.00
|
| 1.11 | For eachP10.000.00 in excess of P100,000,000.00 |
10.00
|
- Manner of Payment.-
2.1 Fees amounting to P100,000.00 or less shall be paid upon the filing of the petition.
2.2 Fees in excess of P100.000.00 may be paid on staggered basis as follows:
2.2.1. P100.000.00 shall be paid upon filing of the petition;
2.2.2. The balance shall be pad in accordance with the following schedule:
2.2.2.1. 25% shall be paid upon the issuance of an order giving due course to the petition;
2.2.2.2. 25% shall be paid upon the approval of the Rehabilitation Plan; and
2.2.2.3. 25% The balance of 50% shall be included as part of the preferred payables to be settled in the Rehabilitation Plan
The Resolution dated 4 September 2001 in A. M. No. 00-8-10-SC,
entitled “Clarification on the Legal Fees to be Collected and the
Applicable Period of Appeal in Cases Formerly Cognizable by the
Securities and Exchange Commission’s hereby modified accordingly.
The Resolution took effect on December 10, 2002.
For your information and strict compliance.
December 11, 2002