The Insolvency Law and Civil Code cover bondholder rights. Claims of creditors against debtors through insolvency proceedings fall under the Insolvency Law. The Civil Code prescribes the order of payments to different types of creditors in case of liquidation of a debtor's estate. The same rules apply to foreign bondholders.

A study on insolvency law regimes in the Philippines by Insolvency Asia, linked below, provides details on claims of creditors, assets available to creditors, and rights of foreign creditors.

The Asia-Pacific Restructuring and Insolvency Guide 2006, linked below, provides information on creditor rights in the Philippines. The report addresses issues such as actions creditors take if they are not satisfied with the conduct of either a formal rescue procedure or a corporate bankruptcy/liquidation; and the order creditors are paid in a corporate bankruptcy/liquidation.