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What is estimated recovery of partially secured creditors

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Question - The following were taken from the statement of affairs of DAIRY Corp.:

Assets pledged for fully secured creditors (estimated market value P150,000) P180,000

Assets pledged for partially secured creditors (estimated market value 104,000) 148,000

Free assets (estimated market value 80,000) 140,000

Salaries, Taxes, and Estimated liquidation expenses 14,000

Partially secured creditors 120,000

Fully secured creditors 60,000

Unsecured creditors without priority 224,000

The Free assets were those assets other than the assets pledged to fully and partially secured creditors. The Unsecured creditors without priority were those creditors with no assets secured to them from the start of liquidation.

Required - What is the estimated recovery of the partially secured creditors?

Reference no: EM133138912

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