"The 'credit' of an individual means his ability to borrow money by virtue of the confidence or trust reposed by a lender that he will pay what he may promise."
Justice George A. Malcolm, People v. Concepcion, 44 Phil. 126 (1922).

11.08.2011

Insolvency

The Concept of Insolvency
Art. 2236, Art. 2237
R. A. No. 10142, Sec. 2, Sec. 4, Sec. 146 to Sec. 148
A.  Nature of Insolvency Proceedings
R. A. No. 10142, Sec. 3, Sec. 7, Sec. 6
B.  Civil and Criminal Liability in Insolvency Proceedings
R. A. No. 10142, Sec. 10. Sec. 145


Concurrence & Preference of Credits
A.  General Concepts
R. A. No. 10142, Sec. 62, Sec. 133
B. Classification of Credits
1.  Special Preferred Credits
Art. 2241, Art. 2242
R.A. No. 10142, Sec. 136
Art. 2243, Art. 2246 to 2250
De Barreto, et al. v. Villanueva, et al., G.R. No. L-14938, January 28, 1961, 1 SCRA 288, Resolution on Motion to Consider, December 29, 1962, 6 SCRA 929.
Development Bank of the Philippines v. Court of Appeals, G.R. No. 126200, August 16, 2001, 363 SCRA 307.
J.L. Bernardo Construction v. Court of Appeals, G.R. No. 105827, January 31, 2000, 324 SCRA 24.
2.  Ordinary Preferred Credits
Art. 2244
P. D. No. 442, Art. 110
R. A. No. 10142, Sec. 133
Art. 2251
3.  Common Credits
Art. 2245, Art. 2251
Cordova v. Reyes Daway Lim Bernardo Lindo Rosales Law Offices, et. al, G.R. No. 146555, July 3, 2007, 526 SCRA 300.

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