A file a petition for rehabilitation b file a

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A. File a petition for rehabilitation B. File a petition for voluntary liquidation C. File a petition for declaration of state of suspension of payments D. File a petition for involuntary liquidation 33. An insolvent individual debtor made a proposal in his petition for the settlement of his obligations the payment of which is suspended by the suspension order issued by the Regional Trial Court. What is the required vote by the creditors affected for the approval of such proposal of insolvent individual debtor? A. 4/5 of the creditors voting to unite upon the same proposition and the claims represented by said majority vote amount to at least 3/5 of the total liabilities mentioned in the petition. B. 3/5 of the creditors voting to unite upon the same proposition and the claims represented by said majority vote amount to at least 2/3 of the total liabilities mentioned in the petition. C. 1/3 of the creditors voting to unite upon the same proposition and the claims represented by said majority vote amount to at least 4/5 of the total liabilities mentioned in the petition. D. 2/3 of the creditors voting to unite upon the same proposition and the claims represented by said majority vote amount to at least 3/5 of the total liabilities mentioned in the petition. 34. An individual debtor has liabilities exceeding P500,000 but his assets are not sufficient to cover his liabilities. What is the proper petition that must be filed by such insolvent individual debtor? A. File a petition for rehabilitation B. File a petition for voluntary liquidation C. File a petition for declaration of state of suspension of payments D. File a petition for involuntary liquidation 35. What is the quantitative threshold before any creditor or group of creditors may file a petition for involuntary liquidation of an insolvent individual debtor? A. Claim of at least P500,000 B. Claim of at least P1,000,000 C. Claim of at least P5,000,000 D. Claim of at least P25,000,000 Page 9
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CORPORATE REHABILITATION 36. It shall refer to the 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. A. Dissolution B. Liquidation C. Rehabilitation D. Reorganization 37. Which of the following cases is not stayed by the suspension order issued by the Rehabilitation Court? A. Civil action to collect unpaid taxes pending before Municipal Trial Court B. Judicial foreclosure of real estate mortgage involving the land of the corporation pending before Regional Trial Court C. Criminal action against the corporate officer pending before Municipal Trial Court D. Civil action for damages involving corporate tort pending before Regional Trial Court 38. What is the quantitative threshold before any creditor or group of creditors may file a petition for involuntary corporate rehabilitation of an insolvent corporation?
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