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What estimated deficiency for unsecured creditors

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Before liquidation begin, Lugi-lugi, Inc. has a capital deficiency of P1,000,000 and P4,000,000 liabilities: P1,200,000 is fully secured; P800,000 is secured by assets with fair value of P400,000. The rest of the liability is unsecured which includes P500,000 priority.

Problem 1: Estimated net losses on assets disposal were P300,000. P200,000 assets are worthless. Estimated deficiency for unsecured creditors

a. P1,000,000

b. P1,200,000

C. P1,400,000

d. P1,500,000

Problem 2: Estimated settlement for partially secured creditors

a. P484,210

b. P550,0

C. P650,000

d. P750,000

Reference no: EM132784931

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