C no because that is violative of right to property

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C. No, because that is violative of right to property of the bank’s stockholders. D. Yes, even there is not justifiable or factual basis for the closure.
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Page 4 FINANCIAL REHABILITATION INSOLVENCY LAW 12. What is the maximum period of conservatorship of a bank or quasi-bank? A. It shall not exceed 1 month. B. It shall not exceed 1 year. C. It shall not exceed 6 months D. It shall not exceed 3 months. 13. Who shall be appointed by BSP Monetary Board as receiver of a bank? A. Philippine Deposit Insurance Corporation B. Development Bank of the Philippines C. Landbank of the Philippines D. Philippine National Bank 14. What is the ground for placing a bank under liquidation proceedings by BSP Monetary Board? A. Whenever, on the basis of a report submitted by the appropriate supervising or examining department, the Monetary Board finds that a bank or a quasi-bank is in a state of continuing inability to maintain a condition of liquidity deemed adequate to protect the interest of depositors and creditors. B. The bank has insufficient realizable assets, as determined by the Bangko Sentral, to meet its liabilities. C. The bank cannot continue in business without involving probable losses to its depositors or creditors. D. If the receiver determines that the institution cannot be rehabilitated or permitted to resume business. 15. May a bank be placed by BSP Monetary Board under receivership without undergoing conservatorship? A. No, because it is violative of right to due process of bank’s shareholders. B. Yes, because designation of a conservator is not a precondition to the designation of a receiver. C. No, because conservatorship proceedings is mandatory. D. Yes, but only if approved by at least majority of the bank’s Board of Directors and ratified by at least 2/3 of the outstanding stockholders. 16. What is the ground before an individual debtor may file a verified petition praying for declaration of state of suspension of payments? A. When an individual debtor possessed sufficient property to cover all his debts but he foresees the impossibility of meeting them when they respectively fall due. B. When an individual debtor possessed sufficient property but he can pay his obligations when they fall due. C. When the total assets of the individual debtor exceed his total liabilities. D. When the capital of the individual debtor is more than the liabilities of the individual debtor. 17. What is the effect of issuance by the court of an order suspending any pending execution against individual debtor upon motion filed by an insolvent individual debtor? A. No creditor shall sue or institute proceedings to collect claim from the debtor from the time of the filing of the petition for suspension of payments and for as long as proceedings remain pending. B. Those creditors having claims for personal labor, maintenance, expense of last illness and funeral of the wife or children of the debtor incurred in the sixty (60) days immediately prior to the filing of the petition shall not institute or sue proceedings to collect claim from the debtor.
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