01788cas a2200253 a 4500 AALejournalIMF000717 230101c9999 xx r poo 0 0eng d 5.00 USD 9781451930153 1018-5941 BD-DhAAL BD-DhAAL Woodruff, Charles. Managing Corporate Distress in the Philippines : Some Policy Recommendations / Charles Woodruff, G. Lim. Washington, D.C. : International Monetary Fund, 1998. 1 online resource (27 pages) IMF Working Papers <strong>Off-Campus Access:</strong> No User ID or Password Required <strong>On-Campus Access:</strong> No User ID or Password Required Electronic access restricted to authorized BRAC University faculty, staff and students While not widespread, the Philippine corporate sector is showing some signs of stress. The paper reviews the exposure of banks to distressed corporate borrowers, the ownership structure of the corporate sector, including the interlocking relationship of corporations and banks, and the legal framework in place for the resolution of debts of distressed companies and the protection of creditor rights. It recommends that immediate measures be taken to improve transparency and regulatory oversight, and to quickly resolve the debts of distressed companies by strengthening the policy framework and institutional capacity for suspension of debt payments by the Securities and Exchange Commission. Mode of access: Internet Lim, G. IMF Working Papers; Working Paper ; No. 1998/138 Full text available on IMF http://elibrary.imf.org/view/journals/001/1998/138/001.1998.issue-138-en.xml IMF e-Library