Lecture Notes for the Philippine Judicial Academy Seminar-Workshop for Commercial Court Judges: Understanding Financial Statements in Insolvency Proceedings

1. Definition of Insolvency Proceedings/Insolvent

2. Documentary Requirements of FRIA
Suspension of payments
Rehabilitation
Liquidation

3. Definitions of Liabilities/Claim/Secured Claim

4. Transposition to Financial Statements
Balance Sheet
Statement of Income
Statement of Changes in Equity
Statement of Cash Flows
Notes

5. Definition of Equity Insolvency or Illiquidity

6. Definition of Balance Sheet Insolvency

7. Analysis Summary

8. Application

9.  Limitations