What I learned from the financial rehabilitation and Insolvency Act of 2010 otherwise known as FRIA and RA 10142 is that there are 2 ways of collection by creditors from debtors and they are thru from 2 different methods: (1) Liquidation (2) Rehabilitation . FRIA encourages debtors to petition the RTC to preserve debtors properties so that they might be able to collect from debtors. Likewise debtors may also file for rehabilitation or liquidation. The law also provide that these actions are in Action in REM, Rehabilitation consists of 3 modes and maybe done voluntarily and involuntarily. In the Involuntary rehabilitation which is filed by creditors once the court is satisfied that the petition is sufficient informed and in substance, the court will issue a Commencement Order. The same would appoint a Rehabilitation Receiver. It will also require a Performance Ban. The remedy of the opposing party is to stay or file for a suspension order. Under Section 80 under FRIA there are exemptions such as cases already appealed to the Supreme Court, and NLRC Cases or Labor Cases and others such as enforcement of claims. The case cited is the case of PCI Bank which involves a case of delivery of personal property and the bank foreclosed the mortgage. Taxes are waived which includes National and Local Taxes. And the lecture also mentioned debt rescheduling and payment in kind which is the dation en pago. The rehabilitation court shall issue a rehabilitation plan and mention the case of BPI vs St Michael and the rehabilitation plan should be economically feasible rehabilitation plan. Tests and standards are also provided for the court to assess whether its action is economically feasible and creditors may recover, Section 74 of FRIA is the Cramdown Power. Once the court confirms the rehabilitation plan, debtors are mandated to comply and payments to creditors should be according to rehabilitation plan. The non-impairment of contracts provided for the institution yields to the constitution for the rehabilitation. Under FRIA, the court may appoint receivers who may receive the property of debtors. Likewise a management committee may also set up for the purpose. The court has the power over the receiver who should be a Filipino citizen of good moral character and should know the laws of Insolvency and must not have a conflict of interest. Under Section 38 of FRIA, it states that the Intention of FRIA is to avoid dissipation of assets which may result to imminent danger and paralysis. The Avoidance proceedings if it is with to intent to defraud false under discussion of Section 58 under FRIA. Section 61 discusses the motion to exclude property filed with the court. The court determines if the plan or proceedings is successful or have failed. And whether the order was fully implemented. There are other mode of rehabilitating which involves creditors holding two thirds both majority which is actually 66.67% which would pray or petition for a rehabilitation plan from the RTC. Section 78 of FRIA discusses pre-approved rehabilitation plan as well as pre-negotiated rehabilitation plan within 120 days and the latter's effect is the same as voluntary rehabilitation. Section 86 of the law provides for the provision as to competing claims in the application of Concurrence and Preference of Credits. The Facilitator likewise discussed the differences between liquidation and suspension of payments. In liquidation, there are sufficient assets while in suspension of assets, the petitioner is only asking for time because at the moment he might not be able to pay his obligations. In liquidation, the petitioners file the petition citing his inventory of assets. Petitioners likewise submit the names of liquidators. A remedy cited by the most distinguished facilitator cites filing of petition to convert liquidation proceedings to rehabilitation proceedings. On the other hand, involuntary rehabilitation is filed by creditors and filed with commercial court. The court, once it finds the petition to be sufficient in form and in substance would issue a liquidation order which mandates its publication. This is what is provided for Section 103 of FRIA. The court likewise requires the posting of ban by the debtor who is an individual files the petition for voluntary liquidation because of insolvency of his part. The court would likewise prohibit the debtors to transfer his properties to other individuals. Under Section 119 of FRIA, the liquidator is an officer of the court. Avoidance proceedings maybe rescinded if committed with fraud.