Gideon T Ines

1. Filing a financial statement, perfection by possession, perfection by control and

automatic perfection are the requirements.
2. Rehabilitation receiver refer to the person, natural or juridical, appointed by the court
pursuant to FRIA law which help financially distressed corporation. The importance of
having a rehabilitation receiver is to make remedies of insolvency in the Philippines. The
function of the rehabilitation receiver is an officer of the court with the duty of preserving
and maximizing the value of the assets of the debtor during proceedings, determined
the standing of the debtor and implement rehabilitation plan to the insolvent.
Qualifications: Citizen of the Philippines and have good moral character.
3.
4. The objective of rehabilitation is to encourage debtors and their creditors to collectively
resolve and adjust competing claims and property rights and ensure a timely, fair, transparent,
effective and efficient rehabilitation or liquidation of debtors.
5. In guaranty the guarantor assumes the liability of the principal debtor and pays the debt in
case only of default of obligation by the debtor. The guarantor is secondarily liable with the
principal debtor.
6. Yes, the contract is valid. It is valid because there is a meeting of the mind between Christine
and Alex and it was not stipulated in the contract.
7.
8.
9.
10. Involuntary liquidation is initiated by someone or organization outside of the business and
this is usually a creditor. In such a case a petition will be filed with the court as with voluntary
liquidation, company directors will have access to an insolvency practitioner.
11. Commencement order is the start of the rehabilitation proceedings against a debtor based
on FIRA Law. The significance of it is that the Court will acquire jurisdiction to the rehabilitation
and liquidation process. The commencement order in rehabilitation proceedings includes also
the suspension order and it means to suspends all actions or proceedings in court or suspends
all actions to enforce any judgment. This can also be done or resort to any remedies against the
debtor other than the Court.
Bonus: effects of suspension order
May not cover all stages of action as embodied in FRIA
12.
13.
14.
15. a. Mutuum because
16. No. It does not apply to a security interest in property subject.
17. Judicial Foreclosure is undertaken through court action while Extra-Judicial Foreclosure is
carried out under the direction of the Sheriff.
18. Stef may file a suspension order to have other means or remedies other than the court
19. The right to stop a foreclosure sale from taking place by paying off the mortgage debt or
repurchase the property after a foreclosure sale. There is also a payment of specific sum of
money within a limited period of time.
Bonus: To file ordinary action in Court to take possession of the property.

CHRISTMAS BONUS
1. The significance of electronic registry in PPSA is to have electronic searches and transaction
of all registry.
2. I learned about mortgage law wherein this law covers instrument used to create a security
interest in real property held by a lender as a security for a debt, usually a loan of money.

3. Q: Ano ang similarity nu UTOT at TULA (POEM)?

A: Pareho silang nagmula sa POET.