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Under RA 10142, a Philippine court issues an Order of Liquidation appointing a Liquidator. The order states: (1) all actions against Astra Manufacturing are stayed; (2) all of Astra's assets vest in the Liquidator; and (3) the Liquidator may marshal and realize the estate for the benefit of creditors. Before liquidation, Astra had: (a) a secured loan with Pacific Bank; (b) a factory lease with Oceanic Properties; and (c) an exclusive distribution agreement with Nimbus Foods granting Astra the right to distribute Nimbus' products in the country for four years. After the Order, Pacific Bank files to collect the loan; Oceanic Properties seeks to terminate the lease; Nimbus Foods asserts that the distribution agreement remains in effect but is assignable to the estate. (a) Identify the central doctrine governing the effects of a liquidation order on pending actions and on the debtor’s assets. (b) Distinguish these effects from the aims and effects of a rehabilitation order. (c) Apply to the facts: what is the current status of Pacific Bank’s collection action, and what is the status of Oceanic Properties’ lease and Nimbus Foods’ distribution agreement? What steps can the Liquidator take regarding Pacific Bank’s claim, the lease, and the distribution agreement?

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