Section 142Sec./Art. 142

Factors in Granting Relief. - In determining whether to grant relief under this subchapter, the court shall consider;

(a) the protection of creditors in the Philippines and the inconvenience in pursuing their claim in a foreign proceeding;

(b) the just treatment of all creditors through resort to a unified insolvency or rehabilitation proceedings;

(c) whether other jurisdictions have given recognition to the foreign proceeding;

(d) the extent that the foreign proceeding recognizes the rights of creditors and other interested parties in a manner substantially in accordance with the manner prescribed in this Act; and

(e) the extent that the foreign proceeding has recognized and shown deference to proceedings under this Act and previous legislation.

CHAPTER IX

FUNDS FOR REHABILITATION OF GOVERNMENT-OWNED AND CONTROLLED CORPORATIONS