The Journalistic View

Is It Final? Steel Corporation of the Philippines Placed Under Liquidation Proceedings







2 comments on Is It Final? Steel Corporation of the Philippines Placed Under Liquidation Proceedings

  1. Jane Ritz
    December 12, 2012 at 9:11 am (5 years ago)

    The steel industry in the Phillipians seems to be following that in the US. I visited some foundries years ago and now they’re either closed or on the brink of bankruptcy. In the Phillipians it sounds like the laws are pushing it out of business

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  2. Karen Hand
    December 17, 2012 at 6:45 am (5 years ago)

    I will admit that I am not familiar with the laws in the Phillipians; however, do they not have an option to appeal the decision to a higher court? There is a big difference in the classification of whether a creditor is classified as “secured” or “unsecured” as a secured creditor will be an entity that is guaranteed payment (or a portion of what is owed to them), whereas an unsecured creditor, more than likely, will not receive any compensation whatsoever.

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