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Foreclosure Validity During Bank Receivership by grace is a document available to read on EtoBox.

(1) The spouses took out a loan from the Philippine Veterans Bank secured by property and an REM. The bank later went bankrupt and was placed under receivership. (2) More than 14 years after the loan was due, the bank moved to foreclose on the property. The spouses argued this was invalid as the prescriptive period was not interrupted during receivership. (3) The Supreme Court ruled that foreclosure is not prohibited during receivership and the period under receivership did not interrupt the running of

Author

grace

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EN