Section 72
SEC. 72. If any debtor shall die after the order of adjudication, Death of debtor the proceedings shall be continued and concluded in like manner and with like validity and effect as if he had lived.
Act No. 1956 CHAPTER XIII.
Compiled from an official source version. Later amendments or repeals may not be reflected; the official text prevails.・Read the official text ↗
Section 73
SEC. 73. Pending insolvency proceedings by or against any person partnership, corporation, or sociedad anonima, no statute of limitations shall run upon a claim of or against the estate of the debtor.
Section 74
SEC. 74. Any creditor, at any stage of the proceedings, may be represented by his attorney or duly authorized agent, and the attorney or agent, properly authorized, shall be entitled to vote at any creditors meeting as and for his principal.
Section 75
SEC. 75. If shall be the duty of the court having jurisdiction of the proceedings, upon petition and after hearing, to exempt and set apart, for the use and benefit of said insolvent, such real and personal property as is by law exempt from execution, and also a homestead, as provided in section four hundred and fifty-two of the Code of Civil Procedure; but no such petition shall be heard us aforesaid until it is first proved that notice of the hearing of the application therefor has been duly given by the clerk, by causing such notice to be posted in at least three public places in the province or city at least ten days prior to the time of such hearing, which notice shall set forth the name of said insolvent debtor, and the time and place appointed for the hearing of such application, and shall briefly indicate the homestead sought to be exempted or the property sought to be set aside; and the decree must show that; such proof was made to the satisfaction of the court, and shall be conclusive evidence of that fact.
Section 76
SEC 76. The filing of a petition by or against a debtor upon commence which, or upon an amendment of which, an order of adjudication in insolvency may be made, shall be deemed to be the commencement of proceedings in insolvency under this Act.
Section 77
SEC. 77. Words used in this Act in the singular include the used in the plural, and in the plural, the singular, and the word "debtor" includes partnerships, corporations, and sociedades anonimas.
Section 78
SEC. 78. Upon the filing of either a voluntary or involuntary petition in insolvency, a receiver may be appointed by the court in which the proceeding is pending, or by a judge thereof, at any time before the election of an assignee, when it appears by the verified petition of a creditor that the assets of the insolvent, or a considerable portion thereof, have been pledged, mortgaged, transferred, assigned, conveyed, or seized, on legal process, in contravention or violation of the provisions of section seventy of this Act, and that it is necessary to commence an action to recover the same. The appointment, oath, undertaking, and powers of such receiver shall in all respects be regulated by the general laws of the Philippine Islands applicable to receivers. When an assignee is chosen, and has qualified, the receiver shall forthwith return to court an account of the assets and property which have come into his possession, and of his disbursements, and a report of all actions or proceedings commenced by him for the recovery of any property to receiver's belonging to the estate, and the court shall thereupon summarily account hear and settle the receiver's account, and shall allow him a just compensation.for his services and his expenses, including a reason, able attorney's fee, whereupon the receiver shall deliver all property, assets, or effects remaining in his hands, to the assignee who shall be substituted for the receiver in all pending actions or proceedings.
Section 79
SEC. 79. When an attachment has been made and is not dissolved before the commencement of proceedings in insolvency, or is dissolved by an undertaking given by the defendant, if the claim upon which the attachment suit was commenced is proved against the estate of the debtor, the plaintiff may prove the legal costs and disbursements of the suit, and off the keeping of the property, and the amount thereof shall he a preferred debt.
Section 80
SEC. 80. In all contested matters in insolvency the court may, in its discretion, award costs to either party to be paid by the other, or to either or both parties to be paid out of the estate, as justice and equity may require in awarding costs, the court may issue execution therefor. In all involuntary cases under this Act, the court shall allow the petitioning creditors out of the estate of the debtor, if any adjudication of insolvency be made, as a preferred claim, all legal costs and disbursements incurred by them in that behalf.
Section 81
SEC. 81. If no creditor files written objections, the court may, upon the application of the debtor, if it he a voluntary petition, or of the petitioning creditors, if a creditor's petition, dismiss the, petition and discontinue the proceedings at any time before the appointment of an assignee, upon giving not less than two nor more than eight weeks notice to the creditors, in the same manner that notice of the time and place of election of an assignee is given: Provided, however, That by written consent of all creditors filed in the court the proceedings may be dismissed at any time. After the appointment of an assignee, no dismissal shall be made without, the consent of all parties interested in or affected thereby.
Section 82
SEC. 82. An appeal may be taken to the Supreme Court in the following eases: 1. Prom an order granting or refusing an adjudication of insolvency and, in the latter ease, from the order fixing the amount of costs, expenses, damages, and attorney's fees allowed the debtor. 2. Prom an order made at the hearing of any account of an assignee, allowing or rejecting a creditor's claim, in whole or in part, when the amount in dispute exceeds three hundred pesos. 3. From an order allowing or denying a claim for property not belonging to the insolvent, presented under section forty-eight of this Act. 4. From an order settling an account of an assignee. 5 From an order against or in favor of setting apart homestead or other property claimed as exempt from execution. 6. From an order granting or refusing a discharge to the debtor. Chapter forty-two of the Code of Civil Procedure, so far as an assignee has given an official undertaking and appeals from a judgment or order in insolvency, his official undertaking stands in the place of undertaking on appeal, and the sureties thereon are liable on such undertaking: Provided, however, That a interlocutory appeal shall not stay proceedings unless a written undertaking be entered into on the part of the appellant, with at least two sureties, in such an amount as the court, or a judge thereof, may direct, but not less than double the value of the property involved, to the effect that if the order appealed from be affirmed, or the appeal dismissed, appellant will pay all costs and damages which the adverse party may sustain by reason of the appeal and the stay of proceedings.
Section 84
SEC. 84. This Act shall take effect on its passage. Enacted, May 20, 1909.
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Provisions on this page are reproduced verbatim from official open data. See the attribution line.
Source: Supreme Court E-Library, Republic of the Philippines. Philippine laws are public documents (works of the government).