This case has been cited 1 times or more.
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2007-01-31 |
AUSTRIA-MARTINEZ, J. |
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| Further, the Stay Order is effective both against secure and unsecured creditors. This is in harmony with the principle of "equality is equity" first enunciated in Alemar's Sibal & Sons, Inc. v. Elbinias,[15] thus: During rehabilitation receivership, the assets are held in trust for the equal benefit of all creditors to preclude one from obtaining an advantage or preference over another by the expediency of an attachment, execution or otherwise. For what would prevent an alert creditor, upon learning of the receivership, from rushing posthaste to the courts to secure judgments for the satisfaction of its claims to the prejudice of the less alert creditors. | |||||