The Legal 500

Twitter Logo Youtube Circle Icon LinkedIn Icon
Work +63 2 830 8000
Fax +63 2 403 7007/7009
Cebu, Davao, Manila

Francisco Ed Lim

Work (632) 830 8000
Angara Abello Concepcion Regala & Cruz Law Offices (ACCRALaw)

Work Department

Corporate & Special Projects; Litigation & Dispute Resolution


Senior Partner Practice Areas: Alternative Dispute Resolution | Antitrust & Trade Regulation | Appellate Practice | Bankruptcy, Insolvency and Corporate Rehabilitation | Capital Markets & Securities | Commercial Law | Debtor & Creditor | Finance | Government & Legislative Advocacy | Litigation | Mergers & Acquisitions | Securities Law | White Collar Crime


Mr. Lim has been involved in several high profile cases in the Philippines, among which are the Poverty Eradication and Alleviation Certificates (PEACe) Bonds, the foreign ownership issue involving the Philippine Long Distance Telephone company (PLDT), and the Philippine Dealing Exchange (PDEx) cases before the Supreme Court. He also spearheaded the teams on some of the largest capital market-related transactions in the Philippines like the equity offerings of the Alliance Select Foods International, Inc., Ayala Corporation, Ayala Land, Inc., BDO Unibank, Inc., Bloomberry Resorts Corporation, Century Group Properties, Inc., Lucio Tan Group of Companies, Melco Crown (Philippines) Resorts Corporation, Travellers International Hotel Group as well as the bond offerings of the Filinvest Group, First Metro Investments Corporation and BDO Unibank, Inc. and the listing of the first-ever Exchange Traded Fund listed in the PSE. Mr. Lim served as President and Chief Executive Officer of the Philippine Stock Exchange (PSE) from September 15, 2004 to February 15, 2010. During his PSE stint, he also served as President & CEO of the Securities Clearing Corporation of the Philippines (SCCP); Chairman of the Philippine Stock Exchange Foundation, Inc., (PSEFI); Chairman of the Capital Market Development Center, Inc. (CMDCI); Director of the Philippine Dealing & Exchange Corporation (PDEx); Trustee of the Securities Investors Protection Fund (SIPF) and member of Capital Market Development Council (CMDC). As President of the PSE, Mr. Lim is credited with several reform initiatives in the Philippine Stock Exchange. He successfully worked for the passage by Congress of several business-related laws, namely, the Financial Rehabilitation and Insolvency Act (FRIA), Personal Equity Retirement Account Act (PERAA), Credit Investment System Act (CISA), Real Estate Investment Trust Act (REITA), and the Documentary Stamp Duty Exemption for secondary trading of listed stocks.


English and Filipino


Mr. Lim is an incumbent director of several companies, among which are the Energy Development Corporation, Producers Savings Bank Corporation and The Insular Life Assurance Co., Ltd. Atty. Lim is the incumbent President of the Shareholders’ Association of the Philippines (SharePHIL), which is an organization that promotes shareholders’ rights in the Philippines. Atty. Lim is currently a member of the Financial Executives of the Philippines (FINEX), Management Association of the Philippines (MAP), and Asia Pacific Real Estate Association (APREA) – Philippines. Mr. Lim is the Chairman of the Judiciary Working Group of the National Competitiveness Council (NCC) and in such capacity represents the country in international fora. Atty. Lim is presently a columnist in the Business Section, Point of Law, of The Philippine Daily Inquirer.


Mr. Lim graduated magna cum laude in Bachelor of Philosophy and cum laude in Bachelor of Arts from the University of Santo Tomas. He obtained his Bachelor of Laws degree (Second Honors) from the Ateneo de Manila University and his Master of Laws degree from the University of Pennsylvania, USA.


Mr. Lim has been actively involved in the revision of rules for Philippine courts. He is the Co-Chairperson of the Sub-Committee on the Rules on E- Commerce and Sub-Committee on the Rules on Notaries Public of the Philippine Supreme Court. He is also a member of Sub-Committees on Commercial Courts; Evidence and DNA Evidence. In such capacity, he actively participated in the drafting of the following rules: Interim Rules Procedure on Corporate Rehabilitation (2000); Interim Rules on Intra-Corporate Controversies (2001); Rules on Corporate Rehabilitation (2008), Rules on Electronic Evidence (2001), Rules on Notarial Practice, Rules on DNA Evidence, and Financial Rehabilitation Rules of Procedure (2013). Mr. Lim is a law professor at the College of Law of the Ateneo de Manila University and the Graduate School of Law of San Beda College, and a professorial lecturer and the Vice-Chair, Commercial Law Department of the Philippine Judicial Academy (PHILJA). He frequently lectures before Philippine judges. As a law professor, he handled various subjects like Securities Regulation, International Business Transactions, Arbitration, Evidence, and Partnership. Mr. Lim has authored or co-authored papers published in both local and international publications on insolvency. Among his articles are: “Informal Workouts, Restructuring and the Future of Asian Insolvency Reform,” published by the Organization for Economic Co-Operation and Development (OECD), 294-297 (2003), OECD Centre for Co-Operation with Non-Members; “Getting the Deal Through,” INSOLVENCY & RESTRUCTURING 2002, series in 30 Jurisdictions Worldwide, Law Business Research 145 (October 2001); “The Philippines Establishes New Rehabilitation Rules, Designates Insolvency Law Court,” published by JOURNAL OF AMERICAN BANKRUPTCY INSTITUTE 18, The International Scene (April 2001); BENCHBOOK FOR COMMERCIAL LAW JUDGES, PROCEDURES FOR CORPORATE REHABILITATION; and “The New Rules on Corporate Recovery of the Securities and Exchange Commission,” 28 JOURNAL OF THE INTEGRATED BAR OF THE PHILIPPINES 79 (2000); and “Does Suspension of Payments Cover Foreclosure of Mortgages?,” 9 PHILIPPINE LAW GAZETTE 15 (1986). AWARDS AND CITATIONS: Atty. Lim is a recipient of various awards and appreciation/recognition, the most recent of which is Punong Gabay from the Philippine Council of Deans and Educators (PCDEB); from the Capital Market Institute of the Philippines for his role in promoting awareness and knowledge of the capital market and its role in the development of the national economy and from the Institute of Corporate Directors for his role in promoting corporate governance in the country. He has recently been awarded a Professorial Chair in Commercial Law by the Philippine Supreme Court, Philippine Judicial Academy and the Metrobank Foundation, Inc.


Capital markets

Within: Capital markets

Eusebio Tan leads the practice at Angara Abello Concepcion Regala & Cruz Law Offices (ACCRALaw), with strong support from Judy Hao, Tadeo Hilado and Francisco Lim. The firm regularly advises BDO Capital as underwriter including recently on the PHP30m bond offering of SM Investments Corp as well as on Megaworld Corporation’s bond offering.

[back to top]

Corporate and M&A

Within: Leading individuals

Francisco Lim - Angara Abello Concepcion Regala & Cruz Law Offices (ACCRALaw)

[back to top]

Back to index

Legal Developments in Philippines

Legal Developments and updates from the leading lawyers in each jurisdiction. To contribute, send an email request to
  • SyCipLaw TMT Bulletin: “More Philippine Data Privacy Act: Are you Ready for Phase II?”

    Controllers and processors who have completed Phase I registration with the National Privacy Commission (NPC) will now have to gear up for Phase II. Phase II involves providing the NPC certain information on the organization’s compliance with the Data Privacy Act (DPA).
  • Getting the Deal Through: Appeals 2017

    The Philippine chapter of Getting the Deal Through: Appeals 2017 was contributed by SyCipLaw partner Ramon G. Songco and associate Kathleen Kay A. de Guzman . The chapter provides key insight into the appellate stage of dispute resolution in the Philippines.
  • The International Comparative Legal Guide to: Patents 2018

    The Philippine chapter of the International Comparative Legal Guide to: Patents 2018 was contributed by SyCipLaw partners Enrique T. Manuel and Vida M. Panganiban-Alindogan . The chapter answers key questions on patent enforcement, patent amendment, licensing, patent term extension, patent prosecution and opposition, border control measures, and antitrust laws and inequitable conduct. It also gives an overview on current patent developments in the country.
  • IBA Taxes Committee: “Developments in Philippine Tax Laws and Regulations”

    The International Bar Association’s (IBA) Taxes Committee published its annual update on tax developments by jurisdiction for 2017. The 2017 update includes a Philippine report by SyCipLaw partner Hiyasmin H. Lapitan entitled “Developments in Philippine Tax Laws and Regulations”. The Philippine report summarizes recent updates related to tax treaty relief, passed-on gross receipts tax, alternative modes of paying taxes, reduction of real property tax on independent power producers, and case law, as well as upcoming tax reform developments.
  • ALB: “Enforcement Update: Philippine Competition Act”

    The August 2017 issue of the Asian Legal Business (ALB)  includes a Philippine regional update by SyCipLaw partner  Arlene M. Maneja entitled, “Enforcement Update: Philippine Competition Act”. The article summarizes the administrative, civil and criminal penalties that apply to companies that have yet to comply with the Philippine Competition Act (PCA). The transitional clause of the PCA to enable parties to renegotiate agreements or restructure their businesses to comply with the law expired on August 7, 2017.
  • CPO: “Philippines: To Be or Not To Be a Data Protection Officer (DPO)”

    Chief Privacy Officer (CPO) Magazine, an online publication owned by Data Privacy Asia, featured an article by SyCipLaw partner Rose Marie M. King-Dominguez . Entitled “Philippines: To Be or Not To Be a Data Protection Officer (DPO) ”, the article discusses the qualifications and responsibilities of a DPO as outlined in the Philippine Data Privacy Act of 2012. It also outlines difficulties companies may experience in the appointment of a DPO.
  • ALB: “Guidelines on Related Party Transactions for Insurers in the Philippines”

    The July 2017 issue of the Asian Legal Business (ALB) includes a Philippine regional update by SyCipLaw partner Hiyasmin H. Lapitan and associate Jo Margarette W. Remollo entitled, “Guidelines on Related Party Transactions for Insurers in the Philippines ”. The article summarizes the Insurance Commission’s compliance guidelines on related party transactions, as set out in Insurance Circular Letter No. 2017-29. The Circular covers insurers, reinsurers, branch offices of foreign insurers, mutual benefit associations, pre-need companies, and health maintenance organizations and their intermediaries.
  • Philippines Chapter in The Tax Disputes and Litigation Review - Edition 5

    The Philippines section of The Tax Disputes and Litigation Review - Edition 5 contains information on commencing disputes, including national and local taxes; courts and tribunals; penalties and remedies; tax claims, including recovering overpaid taxes, challenging administrative decisions, and claimants; costs; alternative dispute resolution; anti-avoidance; double taxation treaties; areas of focus; and outlook and conclusions. The section was contributed by SyCipLaw partner  Carina C. Laforteza  with support from associate  Mark Xavier D. Oyales .
  • IFLR: “Philippines: Acquiring insurance brokers”

    The April issue of the International Financial Law Review (IFLR) includes an international briefing article by SyCipLaw partner  Hiyasmin H. Lapitan  entitled “Philippines: Acquiring insurance brokers”. The article discusses the new requirement by the Philippine Insurance Commission (IC) for advance approval to acquire a stake in a Philippine corporation that is licensed as an insurance broker or reinsurance broker. This requirement is noted in the IC’s circular letter number 2017-09 dated February 14, 2017, which prescribes guidelines on the documentation requirements for acquiring a domestic insurance or reinsurance broker.
  • SyCipLaw Tax Bulletin: Philippine BIR Rules on Proper Tax Treatment of Passed-on Gross Receipts Tax

    On June 13, 2016, the then Commissioner of Internal Revenue issued Revenue Memorandum Circular No. 62-2016 purporting to clarify the proper tax treatment of percentage tax or gross receipts tax (GRT) due on transactions covered by Sections 1211 and 1222 of the Tax Code which are shifted through contractual stipulations to borrowers/customers/clients (“passed-on” GRT). Banks, non-bank financial intermediaries performing quasi-banking functions are subject to GRT under Section 121 while financing companies and other financial intermediaries not performing quasi-banking functions are subject to GRT under Section 122. The effectivity of this circular was suspended on July 1, 2016 by the new Commissioner of Internal Revenue. However, on November 15, 2016, the suspension was lifted by RMC No. 127-2016 rendering RMC No. 62-2016 effective immediately.