Practice question
A secured creditor unaffected by the suspension refrains from attending and voting. The debtor claims the resulting confirmed agreement necessarily binds it exactly like participating ordinary creditors. Which is correct under sections 98 and 101?
- Every nonparticipant is always bound without exception
- Secured status disappears at filing
- The statute preserves the stated exception for secured creditors who do not attend or refrain from voting
- The creditor automatically becomes a partner
- Only oral promises determine the result
Legal references
- https://lawphil.net/statutes/repacts/ra2010/ra_10142_2010.html — RA 10142, sections 94–102
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