Regulatory Alerts2022-09-19
MC No. 08 s. of 2022 — Guidelines on Arbitration of Intra-Corporate Disputes for Corporations
The Securities and Exchange Commission promulgated these guidelines to implement Section 181 of the Revised Corporation Code, establishing procedures for arbitrating intra-corporate disputes between corporations, stockholders, and officers. The rules mandate that arbitration agreements must specify the number of arbitrators and a designated independent third party for appointments, with the Commission stepping in to appoint arbitrators if the designated party fails to act. The guidelines further detail the tribunal's powers to rule on jurisdiction and grant interim measures, while outlining strict protocols for arbitrator challenges, disclosures, and the finality of arbitral awards.
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