Practice question
After a Liquidation Order, an unsecured creditor seeks a new separate collection action for a claim against the debtor rather than following the liquidation claims process. Which is best?
- Every creditor may freely race for separate judgments
- Only the creditor's preferred venue matters
- The Liquidation Order creates no claims process
- Section113(d) bars a separate action for collection of an unsecured claim
- The creditor automatically owns the debtor's warehouse
Legal references
- RA 10142, Section 113(d): https://lawphil.net/statutes/repacts/ra2010/ra_10142_2010.html
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