Practice question
Before entering on duties, what does Section 34 require the rehabilitation receiver to do?
- Buy every creditor’s claim
- Take an oath and file the court-fixed bond
- Become the debtor’s sole shareholder
- Close every business branch permanently
- Resign from the case
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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