Blog

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Receivers and Liquidators, Inc. (RNL) successfully held its 2025 Company Christmas Party on December 20, 2025, at the elegant Acropolis Greens Clubhouse. The event brought together employees and management for an evening filled with celebration, gratitude, and holiday cheer as the company marked the close of another successful year.

The festive gathering was attended by the company’s Chief Executive Officer, Atty. Michael Yancy Yngson, CPA, and the Chief Financial and Operations Officer, Mrs. Susima Cabacungan-Yngson, CPA, along with the company’s Unit Heads. Their presence reflected strong leadership support and appreciation for the dedication and hard work of RNL’s employees throughout the year.

The celebration was filled with joyful moments, highlighted by exciting raffle prizes that delighted RNL employees and added to the lively atmosphere of the evening. One of the most anticipated segments of the program was the dance showdown, where different teams showcased their creativity, teamwork, and energy on stage. After a series of impressive performances, the winners were announced: 1st Place – PNB of Team Leo, 2nd Place – Pag-IBIG of Team Frycela, and 3rd Place – BDO of Team Maribel.

In their closing message, management warmly expressed their heartfelt gratitude to the entire RNL family for their dedication, teamwork, and commitment throughout the year. They emphasized that the company’s success is built on the collective efforts of its people and wished everyone a joyful Christmas, a meaningful holiday season with loved ones, and a prosperous New Year ahead.

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The officers and Admin staff of Receivers and Liquidators, Inc. (RNL) held its 2025 Year-End Party on December 6–7 at the scenic Alta Verde Mountain Hideaway in Batangas City. Unit and Branch Heads as well as members of the Administrative Department gathered for a relaxing two-day celebration, enjoying the private resort’s peaceful atmosphere, refreshing pool, and stunning mountain views.

The event featured lively games and activities led by the HR Head and Admin team, fostering camaraderie and strengthening team bonds. The celebration served as a meaningful way to close the year, reflecting RNL’s commitment to promoting unity, morale, and a positive workplace culture as the company looks forward to 2026.

In the spirit of genuine compassion and service, Receivers and Liquidators, Inc. (RNL) once again held its annual outreach activity last November 23, 2025 with the theme “Puso Para sa Kapwa: Pagbabahagi, Pagmamalasakit, at Pagkalinga.” This yearly initiative reflects the company’s ongoing commitment to bringing joy, hope, and warmth to communities in need. For this year’s event, RNL dedicated its efforts to the children gathered at Our Lady of Miraculous Medal Chapel, National Center for Mental Health, Mandaluyong City through a meaningful gift-giving program.

The outreach was led and graced by RNL’s Chief Executive Officer, Atty. Michael Yancy Yngson, CPA, and Chief Finance and Operations Officer, Ma’am Susima Yngson, CPA. Their presence and steadfast commitment to community welfare continue to inspire the organization to uphold its mission of fostering compassion, inclusivity, and genuine care. Their active participation further underscored the value RNL places on service and shared humanity.

Throughout the activity, the venue was filled with smiles and laughter as children received gifts thoughtfully prepared for them. Each present served not only as material support but also as a message of hope—reminding the young beneficiaries that they are valued, loved, and remembered. Volunteers and staff worked hand-in-hand to ensure that the annual tradition remained meaningful and impactful for every child present.

RNL extends its heartfelt gratitude to everyone who contributed to the success of this year’s outreach. Special appreciation is given to the church facilitators, whose guidance, support, and dedication helped create an atmosphere of unity and shared purpose.

This yearly celebration stands as a powerful reminder of the true essence of giving—sharing blessings, showing compassion, and extending care without expecting anything in return. As RNL continues its advocacy for service and community development, the company remains committed to carrying forward a heart for others, a heart for service, and a heart for the nation.

Indeed, “Puso Para sa Kapwa” is more than a theme—it is a call to action, a way of life, and a continuing commitment to uplift lives through kindness and love.

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Receivers and Liquidators Inc. proudly commemorated its 21st Anniversary, marking over two decades of dedication, resilience, and success. What began as a vision has evolved into a trusted organization built on integrity, teamwork, and excellence.

The simple yet meaningful celebration began with a Thanksgiving Mass, followed by the program proper. The event was filled with excitement, gratitude, and camaraderie as employees and management gathered to reflect on the company’s journey and milestones.

The program featured captivating performances and lively intermission numbers, showcasing the creativity and talent of RNL employees. Each presentation added color and energy to the occasion, highlighting the strong sense of unity that continues to define the company’s culture.

To make the event even more memorable, a raffle promo was held, bringing cheers and anticipation as lucky employees took home exciting prizes. The atmosphere was filled with laughter and joy, a fitting reflection of the company’s enduring spirit of teamwork and appreciation.

A key highlight of the celebration was the Loyalty Awards Ceremony, where employees who have rendered 5, 10, and 15 years of dedicated service were recognized. These loyal and hardworking individuals were honored for their invaluable contributions and unwavering commitment to the company’s growth and continued success.

During the event, Atty. Michael Yngson and Ma’am Susie Yngson delivered heartfelt messages of appreciation, expressing their gratitude to all employees—both new and long-serving—for their dedication and perseverance. They emphasized that the company’s achievements over the past 21 years are the result of collective effort, shared values, and the passion of every individual who has been part of the RNL family.

The 21st Anniversary celebration was not only a tribute to past accomplishments but also a reaffirmation of the company’s commitment to its vision and goals. As Receivers and Liquidators Inc. moves forward, it remains steadfast in its mission to deliver exceptional service to its partners and clients while fostering a workplace culture built on professionalism, collaboration, and innovation.

Cheers to 21 years of success—and to many more years of growth, excellence, and shared achievements ahead!

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Receivers and Liquidators, Inc. proudly announces its recent recognition as the Top Collection Agency for Non-Write Off (3rd Quarter) under the Philippine National Bank Non-Write Off campaign. The award was presented on October 10, 2025, at Strata 2000, Ortigas, Pasig City in acknowledgment of the company’s exceptional performance and continued excellence in collection management.

Adding to the celebration, individual collectors were also honored for their outstanding achievements this quarter:
• Top Collector 1: Jacky Malate
• Top Collector 2: Sherill Cruz
• Top Collector 3: Kumiko Nuesca

This milestone reflects the unwavering commitment, hard work, and professionalism of the entire Receivers and Liquidators Inc. team. Remarkably, the company has maintained its strong track record by receiving consistent recognition since the 1st Quarter of 2025, demonstrating sustained excellence and reliability in partnership with Philippine National Bank.

Receivers and Liquidators, Inc. extends its heartfelt gratitude to its dedicated collectors and partners for their continuous trust and collaboration—further inspiring the company to strive for greater success in the coming quarters.

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Receivers and Liquidators Inc. proudly announces the addition of new campaigns from its esteemed banking partner, China Bank Savings. The China Bank Savings – Personal Loan Curing Campaign was officially endorsed on October 2, 2025, followed by the China Bank Savings – Auto Loan Curing Campaign on October 7, 2025.

These endorsements stand as a testament to the strong partnership and continued trust between Receivers and Liquidators Inc. and China Bank Savings. The inclusion of these additional campaigns highlights the company’s solid reputation and proven capability in delivering quality outcomes and fostering consistent collaboration with its clients.

The company extends its appreciation to the dedicated team handling the China Bank Savings account for their steadfast commitment and professionalism. Their coordinated efforts have been instrumental in reaching this milestone and in further strengthening the partnership with China Bank Savings.

Moving forward, Receivers and Liquidators Inc. reaffirms its commitment to maintaining the highest standards of service and excellence—continuing to nurture meaningful partnerships and deliver impactful results that clients can depend on.

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Receivers and Liquidators Inc. proudly announces the renewal of partnership between RCBC Bankard and The Law Office of Atty. Michael Yancy Yngson. The formal contract signing was held on October 7, 2025, at Robinsons Equitable Tower, Ortigas Center, Pasig City.

In photo: Ms. Carla Javier, RCBC Bankard Recovery Management Department Head; Ms. Hygiea Calaor, RCBC Bankard FSVP – Collections Group Head; Atty. Michael Yancy Yngson, CPA, President and CEO of Receivers and Liquidators Inc.; and Ms. Susima Cabacungan Yngson, CPA, Vice President and CFOO.

This renewed collaboration reflects the continued trust and partnership between RCBC Bankard and Receivers and Liquidators Inc. It reinforces both organizations’ shared commitment to effective recovery management and the pursuit of legal and operational excellence.

The event marks another significant milestone in strengthening professional alliances and delivering dependable financial and legal solutions.

In today’s financial landscape, asset recovery is a critical safeguard for banks, creditors, and corporate lenders in the Philippines. Whether stemming from unpaid loans, non-performing assets, or defaulted obligations, asset recovery ensures that financial institutions can minimize losses while maintaining compliance with local regulations and due process.

Understanding how the recovery process works—from legal demand, repossession, and liquidation, to regulatory safeguards—is essential for both creditors seeking to enforce their rights and debtors entitled to fair treatment under Philippine law.

This article outlines the key steps in the asset recovery process, references relevant legal frameworks, and highlights best practices that establish trust between creditors and their recovery partners.

Why Asset Recovery Matters

According to Bangko Sentral ng Pilipinas (BSP) reports, non-performing loans (NPLs) in the banking sector typically hover around 3–4% of total loan portfolios. For banks, recovering these assets efficiently is not just about protecting their balance sheets—it also sustains liquidity, supports investor confidence, and ensures compliance with capital adequacy requirements.

For creditors such as corporate lenders, asset recovery is equally important. It reinforces contractual integrity and discourages willful defaults while preserving the possibility of debt restructuring where feasible.

Step 1: Legal Demand and Pre-Recovery Measures

The process begins with a demand letter—a formal notification sent to the debtor requiring payment of an overdue obligation within a specified period. This step is mandated under Philippine jurisprudence, as courts often require evidence of such demand before creditors can proceed with more aggressive legal action.

Key considerations:

• BSP Circulars and SEC Rules – Financial institutions must comply with fair collection practices, avoiding harassment or threats. BSP Circular No. 454, for instance, reminds banks to act within the bounds of law when collecting receivables.
• Case Law Reference – In PNB v. Perez (G.R. No. 152152, 2007), the Supreme Court emphasized that creditors must first establish due demand before foreclosure or repossession.
• Best Practice – Some creditors also explore restructuring or refinancing arrangements at this stage to preserve customer relationships and avoid litigation costs.

Step 2: Asset Repossession

If the debtor fails to respond to the demand, creditors may proceed to asset repossession, typically applicable for secured loans (e.g., real estate, vehicles, or equipment pledged as collateral).

There are two primary methods:

1. Judicial Repossession – Filing a case in court for the issuance of a writ of replevin or foreclosure. This path provides stronger judicial oversight but may take longer due to congested dockets.
2. Extrajudicial Foreclosure – Allowed under Act No. 3135 for real estate mortgages and under the Chattel Mortgage Law for movable assets. This process allows creditors to repossess without filing a lawsuit, provided that the contract contains a special power of attorney granting this right.

Due Process Safeguards:

• Debtors must be properly notified of foreclosure proceedings.
• Auctions must be publicly announced in compliance with publication requirements (e.g., posting notices in newspapers of general circulation).
• Failure to follow proper procedure can nullify repossession, as seen in Sulit v. CA (G.R. No. 119247, 1997), where lack of proper notice invalidated a foreclosure.

Step 3: Liquidation and Asset Disposition

Once repossessed, assets must be liquidated or disposed of to satisfy the outstanding debt. This process involves converting the repossessed property into cash through auctions, private sales, or third-party liquidation firms.

Legal Frameworks:

• Rules of Court – Judicial foreclosures follow court-supervised auctions, with proceeds applied to the debt.
• Insolvency Law (Financial Rehabilitation and Insolvency Act of 2010, R.A. 10142) – Governs corporate liquidation, ensuring equitable treatment of all creditors.
• BSP Guidelines – Banks disposing of acquired assets must observe asset classification and reporting standards.

Industry Practice:

• Some creditors partner with accredited liquidation companies to maximize recovery value.
• Transparency in the sale process builds trust and minimizes disputes.

Safeguards for Creditors and Debtors

The Philippine legal system emphasizes balance—creditors’ rights to recover obligations are protected, but debtors are also safeguarded against abuse.

For Creditors:

• Contractual Protection – Enforceability of mortgage and collateral agreements.
• Judicial Remedies – Access to foreclosure, replevin, or collection suits.
• Regulatory Backing – Recognition of secured interests under Civil Code provisions and BSP regulations.

For Debtors:

• Right to Due Process – Proper notice and opportunity to be heard before repossession.
• Protection from Harassment – The BSP and SEC prohibit unfair collection practices, such as public shaming or coercion.
• Redemption Rights – Under Act No. 3135, debtors can redeem foreclosed property within a statutory redemption period (typically one year for real property).

This dual framework ensures that asset recovery is conducted fairly and sustainably.

Case Study: Bank Repossession in Practice

A mid-sized universal bank in the Philippines faced a surge in delinquent auto loans in 2022. By partnering with a licensed asset recovery firm, the bank implemented a compliance-first strategy:

• Demand letters were sent with restructuring offers.
• For unresponsive accounts, extrajudicial repossession was pursued, with strict adherence to notice and publication rules.
• Repossessed vehicles were liquidated through accredited auction houses, achieving 65–70% recovery rates compared to book values.

The outcome: The bank successfully reduced its NPL ratio without incurring reputational risks or regulatory sanctions.

Building Trust Through Compliance

For financial institutions, asset recovery is not simply a legal process—it is also a matter of reputation. Mishandled repossession cases can result in litigation, regulatory penalties, and public backlash. On the other hand, compliance-focused recovery demonstrates professionalism and strengthens client relationships.

Best Practices for Trusted Recovery Partners:

• Transparency – Document every step of the process and keep clients informed.
• Regulatory Alignment – Ensure full compliance with BSP, SEC, and court requirements.
• Ethical Standards – Uphold debtor dignity while protecting creditor rights.
• Efficiency – Balance speed of recovery with procedural safeguards.

The asset recovery process in the Philippines—spanning legal demand, repossession, and liquidation—is a structured framework that safeguards the rights of both creditors and debtors. By following due process, complying with regulatory requirements, and upholding ethical standards, financial institutions can protect their assets while maintaining public trust.

For banks, creditors, and law firms, partnering with a trusted recovery firm ensures not only higher recovery rates but also peace of mind that every action is legally sound and reputationally secure. In an industry where compliance and credibility define long-term success, asset recovery is best approached as a partnership built on professionalism and trust.

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Since its inception in 2000, Receivers and Liquidators, Inc. has been at the forefront of debt collection and asset recovery services. Over the years, the company has built a reputation for reliability, professionalism, and ethical business practices.

What began as a modest operation with a small team has evolved into a nationwide presence with more than 400 skilled professionals spread across seven branches. This extensive network enables the company to support a diverse clientele, from emerging small businesses to established corporations, consistently delivering strong results.

Receivers and Liquidators, Inc. embraces innovation by integrating advanced technology and data-driven insights into their workflows. This commitment to modernization enhances operational efficiency and ensures optimal outcomes for their clients.

The company is dedicated to maintaining transparency and fairness in all interactions, positioning itself not just as a service provider, but as a trusted partner focused on protecting financial interests and recovering assets with precision and care.