Liquidation Order.
Section 112
SEC. 112. Liquidation Order. — The Liquidation Order shall: declare the debtor insolvent; order the liquidation of the debtor and, in the case of a juridical debtor, declare it as dissolved; order the sheriff to take possession and control of all the property of the debtor, except those that may be exempt from execution; order the publication of the petition or motion in a newspaper of general circulation once a week for two (2) consecutive weeks; direct payments of any claims and conveyance of any property due the debtor to the liquidator; prohibit payments by the debtor and the transfer of any property by the debtor; direct all creditors to file their claims with the liquidator within the period set by the rules of procedure; authorize the payment of administrative expenses as they become due; state that the debtor and creditors who are not petitioner/s may submit the names of other nominees to the position of liquidator; and set the case for hearing for the election and appointment of the liquidator, which date shall not be less than thirty (30) days nor more than forty-five (45) days from the date of the last publication.