Assessing the Legal Rescue : Critical Issues on the Rehabilitation Process for Micro, Small and Medium Enteprises (MSMEs)

Assessing the Legal Rescue : Critical Issues on the Rehabilitation Process for Micro, Small and Medium Enteprises (MSMEs)
Author: Lorenza Abella Abion
Publisher:
Total Pages: 61
Release: 2012
Genre:
ISBN:
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The remarkable increase in the number of Micro, Small and Medium Enterprises (MSMEs) in the Philippines in the recent decade has underscored the necessity for the rethinking of existing laws and institutionalization of new policies for optimal assistance to this burgeoning sector. Until recently, only huge corporations through the Insolvency Law could attempt and secure legal and financial rescue to the dismay of smaller companies and emerging industries. With the passage of the Financial Rehabilitation and Insolvency Law (FRIA) in 2010, small-scale industries in the brink of financial collapse may now seek legal intervention which places them under tight management and brief period of liability relief. This opportunity though comparable to the insolvency processes of corporations has important disparities that must be tackled given its recency for the guidance of entrepreneurs and lawyers. Moreover, considering the complexity of declining financial viability, the real purpose and proper execution of this legal option may become perplexing to concerned individuals. This study undertakes to explain the Petition for Suspension of Payments as the appropriate solution with suffice contemplation of the procedures in theory and in real practice based on the rich and diverse experience of the author as a long-time rehabilitation lawyer for micro, small ang medium enterprises. It is the objective of this research to present as well the expedient and efficient manner of vying for the Petition and the successful accomplishment of a binding rehabilitation plan for all parties. Adapting the descriptive-analytic design, the researcher utiized the library and substantive law review methods and more importantly case reviews of which some were tackled intensively and taken as representative case for a particular enterprise category. Through careful synthesis of these selected cases combined with the insights of the author, the realistic approach to pursuing the petition and resulting rehabilitation is laid out. In the course of scrutinizing these specific issues, several findings seen as all crucial in properly rescuing MSMEs are offered, which could significantly improve the current Philippine business and industry development system particularly the insolvency statutes enforced currently.

Small and Medium Enterprises, Law and Business

Small and Medium Enterprises, Law and Business
Author: Jan Winczorek
Publisher: Taylor & Francis
Total Pages: 239
Release: 2023-06-23
Genre: Law
ISBN: 100089259X
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The law plays an ambiguous role in running business. While legal tools can be used to tame uncertainties, for example, by concluding contracts to safeguard enforcement of future claims, they can also generate uncertainty. These secondary uncertainties like ones stemming from vague rights and obligations may be counterbalanced by using different resources and strategies, including acting informally, modifying business plans or accepting the losses from unpaid dues. This book discusses how small and medium enterprises use the law, abstain from using the law, and use alternative pathways to manage business uncertainties. Examining these topics through the lenses of an extensive qualitative and quantitative empirical study on justiciable issues, access to justice and legal uncertainty among SMEs in Poland, it implements and expands upon the paradigmatic paths to justice methodology which has been successfully used to study conflict resolution, access to justice and utilisation of the law by individuals in more than 30 jurisdictions. It argues that the grand promise of modern law - that it is a certainty-providing, neutral and democratic device to resolve problems and conflicts - is not fully delivered. It reveals how the conditions of a freshly developed capitalism combined with the rule of law backsliding contribute to universal, structural problems with access to justice meaning that accessing justice is a resource-hungry process, which incentivises small businesses to settle for their legal problems and engage in informal and alternative strategies.

Micro, Small, and Medium Enterprise Insolvency

Micro, Small, and Medium Enterprise Insolvency
Author: Ronald Davis
Publisher: Oxford University Press, USA
Total Pages: 226
Release: 2018
Genre: Law
ISBN: 9780198799931
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This book reconsiders the treatment of distressed Micro, Small and Medium Enterprises (MSMEs). Recognising that insolvency systems traditionally suit larger enterprises, and that they do not always apply neatly to smaller entities, the book proposes a 'modular' approach designed to facilitate the treatment of smaller enterprises in distress.

Treatise on Micro, Small and Medium Enterprises

Treatise on Micro, Small and Medium Enterprises
Author: Rajeev Babel
Publisher: Bloomsbury Publishing
Total Pages: 1000
Release: 2021-09-20
Genre: Law
ISBN: 939025258X
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Highlights Practical insights into the provisions applicable to MSMEs in India Covers upto-date: -MSME Act, 2006, Coir Industry Act, 1953, Khadi and Village Industries Commission Act, 1956, -MSME Schemes: PMEGP, CGTSME, ISEC, MPDA, SFURTI, CITUS, MCV, EMP, TIRFSS, PMSBY, ASPIRE. etc -RBI Guidelines for Priority Sector and MSME, Lending to MSME, TReDS -Restructuring of Advances and Pre-packaged Insolvency Rules/Regulations About the Book The book seeks to provide readers with a practical insights into provisions applicable to MSMEs in India. This treatise of MSMEs is divided into nine parts consisting of 28 chapters attempting to provide professionals with essential knowledge and tools to understand and undertake the necessary compliances. The book provides the latest position without compromising on changes in the law that have taken place over time. This book aims to equip professionals, be it CS, CA, CMA or corporate lawyers, who are desirous of undertaking compliances or practicing on MSME laws with the requisite knowledge and expertise. Key Features Industrial Policy Statements since 1948, Evolution, Importance and Setting-up of MSMEs Ministry of Micro, Small and Medium Enterprises, Its Divisions and Organisations attached Micro, Small and Medium Enterprises Act, 2006 & Rules and Notifications, Coir Industry Act, 1953 and The Khadi and Village Industries Commission Act, 1956. Schemes Covered under the MSME, viz: : PMEGP, CGTSME, ISEC, MPDA, SFURTI, CITUS, MCY, EMP, TIRFSS, PMSBY, ASPIRE. etc. RBI Guidelines on Priority Sector Lending & MSME, Lending to MSME, Restructuring of Advances Factoring -TReDS Financing to MSMEs, Assessment of Working Capital Limits by Banks Institutional Framework for MSME Financing SEBI Measures for MSME – Initial Public Offer and Listing of Securities at SME Exchange Global Perspectives of MSME – OECD and World Bank

Avoid Legal Pitfalls for Small Businesses

Avoid Legal Pitfalls for Small Businesses
Author: Bevans Solicitors
Publisher: Teach Yourself
Total Pages: 171
Release: 2012-02-24
Genre: Business & Economics
ISBN: 1444137433
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Do you want to protect yourself from all the legal pitfalls in planning, setting up and running your SME? Then let one of the UK's leading law firms guide you through the minefield with this book - the best quick reference to all of those risks and how to avoid them, With a practical approach that takes you from: Pre-start up ( Operating structures; Restrictions preventing start up; Corporate finance considerations) Through start-up (Shareholder/partnership agreements and exit strategies; Property/premises issues; Employment of staff, including drafting contracts of employment; Supplier contracts; Customer/client contracts; Protecting IP rights) To practical ongoing SME pitfalls (IP rights and disputes; Owner disputes; HR/employee problems; Health and Safety problems; PI claims and HSE prosecutions; Supplier disputes; Customer disputes including debt collection; Merger & Acquisitions activity including issues related to disposing of a business) This invaluable book could save you from legal and financial disaster: a great value resource for every small to medium business.

Micro, Small, and Medium Enterprise Insolvency

Micro, Small, and Medium Enterprise Insolvency
Author: Rizwaan Jameel Mokal
Publisher:
Total Pages:
Release: 2018
Genre: Bankruptcy
ISBN: 9780191864759
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This volume systematically examines the current process for distressed Micro, Small and Medium Enterprises (MSMEs), and proposes a different, more appropriate, 'modular' approach to the treatment of such entities when faced with insolvency proceedings.

Competition Law, Regulation & SMEs in the Asia-Pacific

Competition Law, Regulation & SMEs in the Asia-Pacific
Author: Michael Schaper (Professor)
Publisher:
Total Pages: 0
Release: 2016
Genre: BUSINESS & ECONOMICS
ISBN: 9789814695817
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Small and medium-sized enterprises (SMEs) account for more than 90 per cent of all businesses in the Asia-Pacific region - an area which is rapidly updating its competition laws and regulations to encourage greater entrepreneurship and open, dynamic economies. Yet SMEs are almost invisible when those competition policies and laws are developed and enforced. SMEs are often quite different businesses than large, multinational corporation, but their nature, significance and characteristics are often overlooked. This book seeks to rectify the relative neglect in research and policy discussions on the role of the SME sector in competition policy and law. Drawing on contributions from a wide range of competition regulators, lawyers, academics, consultants and advisers to the SME sector, it addresses such important issues as: perceptions and views of small businesses about competition law; regulator engagement and education of the SME sector; the link between competition law and economic growth; franchising, SMEs and competition law; issues in enforcing competition law against SMEs; the role of Chinese family firms; trade, professional and industry associations; country case studies from Vietnam, Singapore, Indonesia, Malaysia, China, South Korea, Hong Kong SAR, Japan and the Pacific Islands.

Rescue of Business in Europe

Rescue of Business in Europe
Author: European Law Institute
Publisher: Oxford University Press, USA
Total Pages: 1505
Release: 2020-02-16
Genre: Law
ISBN: 0198826524
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This edited volume is based on the European Law Institute's (ELI) project 'Rescue of Business in Insolvency Law'. The project ran from 2013 to 2017 under the auspices of the ELI and was conducted by Bob Wessels and Stephan Madaus, who were assisted by Gert-Jan Boon. The study sought to design (elements of) a legal framework that will enable the further development of coherent and functional rules for business rescue in Europe. This includes certain statutory procedures that could better enable parties to negotiate solutions where a business becomes financially distressed. Such a framework also includes rules to determine in which procedures and under which conditions an enforceable solution can be imposed upon creditors and other stakeholders despite their lack of consent. The project had a broad scope, and extended to consider frameworks that can be used by (non-financial) businesses out of court, and in a pre-insolvency context. Part I of this book, the ELI Instrument as approved by the ELI Council and General Assembly, features 115 recommendations on a wide variety of themes affected by the rescue of financially distressed businesses, such as the legal rules for professions and courts, treatment and ranking of creditors' claims, contract, corporate and labour law as well as laws relating to transaction avoidance. Part II consists of national reports that sketch the legal landscape in 13 States and of an 'Inventory Report on International Recommendations from Standard-Setting Organisations', both of which provided insight for the drafting of the Instrument. This volume is designed to assist those involved in a process of law reform and those setting standards for soft law in the business rescue context.

MSME

MSME
Author: Vijay Kumar Singh
Publisher:
Total Pages: 17
Release: 2017
Genre:
ISBN:
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It is said that 'small is beautiful'. This saying perfectly fits into the context of entrepreneurship development. A confidential paper by UNIDO on MSME emphasizes that “MSMEs provide a natural habitat for entrepreneurs. Through this platform, the latent/raw talent available locally can hone their skills and talents, to experiments, to innovate and transform their ideas into goods and services needed by the society.” Small scale sector has remained high on the agenda of all political parties, intelligentsia and policy makers since Independence as a legacy of Gandhian Philosophy. The special thrust to this sector has been with the multiple objectives of employment generation, regional dispersal of industries and as a seedbed for Entrepreneurship. Micro, Small and Medium Enterprises (MSME) as a concept is itself innovative and also promotes innovation. Prior to MSME Development Act 2006, the concept of SSI (SME) was into existence in the country to which a new class 'Medium Enterprises' was added. The MSME Act of 2006 deals with facilitation, promotion, development and enhancement of competitiveness of micro, small and medium enterprises. The present paper would discuss this basic legislation and would analyze its vitality in promoting innovation in MSMEs. Worldwide, the MSME have been accepted as the engine of economic growth and for promoting equitable development. This stands true even for India as it accounts for about 39% of the manufacturing output and around 33% of the total export of the country. With this background it is important to find out the various legal issues, for example issues relating to competition law, opening up of SME stock exchanges, enterprise social responsibility and proper implementation of the MSME policy; and to suggest solutions for the same - that's the precise deliberation which the present paper seeks to do.