Practice question
After appointment, a receiver develops a conflict of interest detrimental to independence. The receiver says only conflicts existing on appointment can matter. Which is correct under Section 32?
- All later conflicts are immune
- Only the receiver may decide removal
- Creditors must buy the receiver’s business
- Conflict can matter only after liquidation
- A conflict arising after appointment is an express removal ground
Legal references
- RA 10142 (FRIA), Sections 4, 7, 9, 17-18, 31-35, 64-70 and 115-121: https://lawphil.net/statutes/repacts/ra2010/ra_10142_2010.html
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