This case has been cited 1 times or more.
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2013-07-29 |
VELASCO JR., J. |
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| Indeed, Sec. 1(d) above is couched in general terms and broad in scope, encompassing instances not covered by the other grounds enumerated under the said section.[16] However, in granting applications for receivership on the basis of this section, courts must remain mindful of the basic principle that receivership may be granted only when the circumstances so demand, either because the property sought to be placed in the hands of a receiver is in danger of being lost or because they run the risk of being impaired,[17] and that being a drastic and harsh remedy, receivership must be granted only when there is a clear showing of necessity for it in order to save the plaintiff from grave and immediate loss or damage.[18] | |||||