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Maypondo Corporation is a bank. The operation was not doing well. So, to avert any bank run, the corporation, with the approval of the Monetary
Maypondo Corporation is a bank. The operation was not doing well. So, to avert any bank run, the corporation, with the approval of the Monetary Board , sold all its assets and liabilities to Maramingkita Corporation which includes all deposit accounts. In effect then, Maramingkita Corporation will service all deposits of all depositors of Maypondo Corporation. QUESTION-WILL THE SALE OF ALL ASSETS AND LIABILITIES OF MAYPONDO CORPORATION TO MARAMINGKITA CORPORATION AUTOMATICALLY DISSOLVE OR TERMINATE THE CORPORATE EXISTENCE OF MAYPONDO CORPORATION
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