Manila Surety & Fidelity Co., Inc. v.

Noemi Almeda, doing business under the name

and style of Almenda Trading, Generoso Esquillo and National Marketing Corporation
G.R. No. L-27249, 31 July 1970
 The fact that the debtor-principal may be discharged from all his outstanding
obligations in the insolvency case would not benefit the surety, as to relieve it of its
liability under the surety agreement, as provided under Section 68 of the Insolvency
Act.

In the Matter of the Estate of Mindanao Motor Line, Inc., an Insolvent Debtor, Jesus
Moraza, as President and General Manager v. Epifanio Alforque, Ignacio Alba,
Federico Baluyot, Jose Benemerito, Antonio Borre, et. al
G.R. No. L-27944, 28 May 1974
 The comprehensiveness of the coverage of the matters required to be stated
explicitly in the schedule, as prescribed by Section 15 of the Insolvency Law (Act 1956)
is such that even an outline of the facts giving rise or which might give rise to a
cause of action against the insolvent debtor must be included. If the name of a
creditor is omitted, he stands to be deprived of personal notice of the proceedings,
apart from publication, and of his right to vote in the election of an assignee.
Otherwise, the order declaring the corporation insolvent will be declared null and
void.

Vigan Electric Light Co., Inc., and Luis C. Singson, v. Hon. Lodivico D. Arciaga, Judge
of the Court of First Instance of Ilocos Sur, National Power Corporation, Republci of
the Philippines, Province of Ilocos Sur, Carmeling Crisologo, and Agileo R. Redoble
G.R. No. L-29207 and L-29222, 31 July 1974
 A receiver may be appointed upon the relation of a creditor of a corporation, where
the corporation has been dissolved, or is insolvent, or has forfeited its corporate
rights, pursuant to Section 2, Rule 59 of the Rules of Court. However, it does not
necessarily follow that any general representation by a corporate creditor that the
corporation is in imminent danger of insolvency would perforce entitle the court to
grant ex-parte the petition for receivership. It is necessary that the applicant alleges
specific facts sufficient to show insolvency or the imminence of insolvency, rather
than broad conclusions. As a general rule, solvency is presumed especially where a
going concern is involved.

In Re: Petition for Voluntary Insolvency of Uy Tong, alias, Teodoro Uy, Uy Tong, alias
Teodoro Uy, v. Mario R. Silva, assignee, Eduardo Lopez, et al.
G.R. No. L-28377, 1 October 1984
 A debt of the bankrupt arising prior to the bankruptcy cannot be set off against
installments of rent falling due after bankruptcy, although the installments are
payable under a written lease in effect before the bankruptcy, in accordance with
Article 1279 of the Civil Code and Section 58 of the Insolvency Law.

Philippine Commercial Internationa Bank and Melchor B. Francisco v. The Honorable

Court of Appeals and Bengzon, Zarraga, Narciso, Cudala, Pecson Azcuna and Bengzon,
SEC Appointed Receiver of Philfinance
G.R. No. L-27944, 28 May 1974
 SEC’s order for suspension of payments cannot extend to creditors holding a
mortgage, pledge or any lien on the property unless they give up the property,
security or lien in favor of all the creditors of the insolvent company.