Practice question
A receiver discovers inflated debts in the debtor's schedule and says the petition's numbers must be accepted without examination. Which is correct?
- Every petition figure is conclusive
- Only the debtor may ever know its liabilities
- The receiver has no claim-evaluation role
- All claimed debts disappear automatically
- Section 31 requires verification and correction where necessary and evaluation of claims
Legal references
- RA 10142, Section 31(a)-(d): https://lawphil.net/statutes/repacts/ra2010/ra_10142_2010.html
Answer this question in flashcards to review your response and continue practicing.