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Showing 1–4 of 4 articles for “audited financial statements”

Retrenchment During Corporate Rehabilitation: When Audited Financial Statements Aren't Required

Supreme Court clarifies that employers under corporate rehabilitation may prove severe financial losses without audited financial statements in retrenchment cases.

Authentication or Bust: When Private Documents Need Proof to Fly in Court

Philippine Supreme Court ruling on why private documents like audited financial statements must be authenticated before courts can admit them as evidence.

Dismissal Due to Business Losses: Substantiate Claims With Financial Records

Philippine law requires employers to prove business losses with audited financial statements before dismissing workers for retrenchment or closure.

Danzas v. Daguman: When Retrenchment and Closure Are Used to Disguise Illegal Dismissal

The Supreme Court ruled that an employer claiming retrenchment or closure must prove it with audited financial statements — and that quitclaims signed on false premises do not bind workers.