Report of the Rehabilitation Receiver.
Section 24
SEC. 24. Report of the Rehabilitation Receiver. — Within forty (40) days from the initial hearing and with or without the comments of the creditors or any of them, the rehabilitation receiver shall submit a report to the court stating his preliminary findings and recommendations on whether: the debtor is insolvent and if so, the causes thereof and any unlawful or irregular act or acts committed by the owner/s of a sole proprietorship partners of a partnership or directors or officers of a corporation in contemplation of the insolvency of the debtor or which may have contributed to the insolvency of the debtor; the underlying assumptions, the financial goals and the procedures to accomplish such goals as stated in the petitioner's Rehabilitation Plan are realistic, feasible and reasonable; there is a substantial likelihood for the debtor to be successfully rehabilitated; the petition should be dismissed; and the debtor should be dissolved and/or liquidated.