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8. Reasons for bidding cancellation
8. Reasons for bidding cancellation
The executing officer may cancel the bidding for the following
reason:

The court order
Petition filed to intervene to release the property seized
Notice to the interested persons was not sent in accordance

with the laws.
The judgment creditor files a motion renouncing the right
to execution whereby he/she receives consent in writing from all
interested persons.

The judgment creditor files a motion to withdraw the
execution for the said property.

The debtor makes the payment in accordance with the writ
of execution to cover the judgment creditor and the applicant for sharing
that the court had the permission order for that said.
The debtor is under the absolute receivership order and is

pending the official receiver’s notice whether or not the assets will be
sold by auction.
The court accepts the petition for business reorganization.

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