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Metropolitan vs. Liberty

METROPOLITAN BANK AND TRUST COMPANY, PETITIONER, V. LIBERTY CORRUGATED BOXES MANUFACTURING CORPORATION, RESPONDENT.

G.R. No. 184317 | 2017-01-25

Republic of the Philippines
Supreme Court
Manila
 
SECOND DIVISION
 
DECISION
 
LEONEN, J.:
 
A corporation with debts that have already matured may still file a petition for rehabilitation under the Interim Rules of Procedure on Corporation Rehabilitation.
 
This resolves a Petition for Review[1] on certiorari assailing the Court of Appeal's June 13, 2008 Decision[2] and August 20, 2008 Resolution.[3] The Court of Appeals affirmed the Regional Trial Court's December 21, 2007 Order[4] approving Liberty Corrugated Boxes Manufacturing Corp.'s rehabilitation plan.
 
Respondent Liberty Corrugated...