GREY:PTQMF - Post by User
Post by
wwadehammeron Feb 07, 2014 10:53pm
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Post# 22186750
Foreclosure and Workers
Foreclosure and WorkersDB can foreclose if it wants to and FQ can't bring in to many Filipinos for cheap labor.
- 14.
What means of enforcement are available to creditors in connection with collateral security interests in mining rights?
Mortgages on mining and other types of concessions, titled lands and chattel property may be foreclosed pursuant to general mortgage foreclosure proceedings provided in the Judicial Code.
Pledges may also be foreclosed pursuant to judicial proceedings, however, the law allows in certain instances (particularly, if agreed upon in the pledge agreement) for their private enforcement.
The type of enforcement available will depend on the type of collateral security arrangement.
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16. Describe any requirements related to the use of domestic and foreign labour, suppliers and contractors.
Companies must contract Panamanian workmen or foreigners married to Panamanian citizens or who have resided in the country for at least 10 years, in a proportion of at least 90 per cent of total personnel, and may engage expert or technical foreign workers not exceeding 15 per cent. In no event can the percentages of wages or remuneration together and by category be less than those indicated in the previous sentence. However, a larger proportion of foreign technicians (for whom comparable local expertise is unavailable) may be permitted for a definite period at the recommendation of the respective Ministry and subject to approval by the Ministry of Labour.