Two similar but separate bills have recently been submitted to the consideration of the National Assembly that seek to introduce certain special provisions into the current Debtor Rehabilitation and Liquidation Act, whereby prohibiting In the individu...
Two similar but separate bills have recently been submitted to the consideration of the National Assembly that seek to introduce certain special provisions into the current Debtor Rehabilitation and Liquidation Act, whereby prohibiting In the individual rehabilitation procedure residential mortgagees from exercising the otherwise available right to separation from the estate and allowing individual debtors to repay residential mortgages in long installments according to the court-approved payment plan. This article critically reviews those two bills and suggests some improvements thereon to further the objectives of the proposed provisions.