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POWERS AND FUNCTIONS OF MANAGEMENT COMMITTEE OR REHABILITATION RECEIVER

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barrister

barrister
Reclusion Perpetua

[Sec. 6 (d), PD 902-A]
1. To take custody of, and control over, all the existing assets and property of such entities
under management;
2. To evaluate the existing assets and liabilities, earnings and operations of such corporations, partnerships and associations;
3. To determine the best way to salvage and protect the interest of the investors and creditors;
4. To study, review and evaluate the feasibility of continuing operations and structure and rehabilitate such entities if determined to be feasible by the RTC;
5. To report and be responsible to the RTC until dissolved; and
6. May overrule or revoke the actions of the previous management, notwithstanding any provision of law, articles of incorporation or by-laws to the contrary

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