When rehabilitation is not feasible

Resort to speedy and orderly liquidation of the debtor's assets and the
settlement of their obligations.

Meaning of Rehabilitation

Restoration of the debtor to a condition of successful operation and solvency,

if it is shown that its continuance of operation is economically feasible and its
creditors can recover by way of the present value of payments projected in
the plan, more if the debtor continues as a going concern than if it is
immediately liquidated. 

Difference between Rehabilitation and Liquidation

Rehabilitation – connotes reopening or reorganization. Aim is to restore

corporation to its successful operation and continue corporate life
Liquidation – connotes winding up or settling with creditors and debtors.

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3. Non-adversarial – Parties to achieve win-win solution

Petition for rehabilitation is a special proceedings since its purpose is to

establish a fact.