Liquidation

Question 14 1. The following data were taken from the statement of affairs for Willie Corp. Assets Pledged for fully secured liabilities (fair value P150,000) 180,000 Assets pledged to partially secured liabilities (fair values, P104,000) 148,000 Free Assets (fair value, P80,000) 140,000 Unsecured liabilities with priority 14,000 Fully Secured liabilities 60,000 Partially secured liabilities 120.000 Unsecured liabilities without priority 230.000 The expected recovery per peso