Practice question
A sufficient creditor-affected petition reaches the SEC. An officer fixes an objection deadline only five days after entry of the order, relying solely on Section 135. Which is correct?
- The section’s deadline range is thirty to sixty days after entry, so five days does not satisfy it
- Five days is expressly the statutory minimum
- No objection period is ever permitted
- The petition itself automatically cancels every creditor right
- Only the petitioner chooses the deadline privately
Legal references
- RA 11232: https://elibrary.judiciary.gov.ph/thebookshelf/showdocs/2/86463; Section 135.
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