Practice question
What does a FRIA Liquidation Order do to a juridical debtor under Section113(a)?
- Deems it dissolved and terminates its corporate or juridical existence
- Makes every shareholder a judge
- Automatically guarantees successful rehabilitation
- Turns every creditor into an incorporator
- Erases every debt without administration
Legal references
- RA 10142, Section 113: https://lawphil.net/statutes/repacts/ra2010/ra_10142_2010.html
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