Practice question
A receiver considers selling several small parcels together rather than one at a time because it would reduce costs and efficiently distribute assets to creditors. Does Section 16(c)(4) allow a sale by lot?
- Never
- Yes, when reasonably determined on cost-benefit considerations and efficient distribution
- Only if every parcel is worthless
- Only if former directors buy everything
- Only after all creditors abandon claims
Legal references
- RA 10846, Sections 26-29, PDIC Charter Sections 13-16, read with RA 11840: https://lawphil.net/statutes/repacts/ra2016/ra_10846_2016.html
- RA 11840, Sections 4 and 11, amended PDIC Charter Sections 5 and 13: https://lawphil.net/statutes/repacts/ra2022/ra_11840_2022.html
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