THE High Court had issued guidelines with regards to the conduct of financial rehabilitation proceedings.

According to the 38-page decision, the SC en banc said that this is in order to avoid any possible delays in rehabilitation courts.

In a statement, the SC said that the following guidelines under the Financial Rehabilitation and Insolvency Act of 2010 (FRIA) and the Financial Rehabilitation Rules of Procedure (FR Rules) should be taken into consideration.

Among them include that upon the appointment of a rehabilitation receiver, the rehabilitation court is mandated to give instructions for the former to tell all the courts or tribunals to which the debtor has pending actions.

It can be done by manifestation.

It also said that in cases to which the petitioner is the debtor, the courts should be notified.

Likewise, the rehabilitation court likewise will require the rehabilitation receiver, should the latter learn of any other pending actions by or against the debtor, to notify such other court/tribunal.