Text of the provision
Art. 2240. Property held by the insolvent debtor as a trustee of an express or implied trust, shall be excluded from the insolvency proceedings.
(n)
Civil Code of the Philippines, Republic Act No. 386, approved June 18, 1949, effective August 30, 1950. Reproduced in full; verified verbatim against the LawPhil and ChanRobles official-text renderings.
What this article means
Property held by the insolvent debtor as a trustee of an express or implied trust is excluded from the insolvency proceedings — it never belonged to him.
Related provisions
- Article 2239 — Free Property of the Insolvent.
- Article 2241 — Preferred Credits on Specific Movables.
Cases interpreting this article
- Authorities on this article will be added here as each is verified against primary sources.
Note. The text of the provision above is reproduced in full from the official enactment (Republic Act No. 386), verified against the LawPhil and ChanRobles renderings. The annotation and commentary around it are the work of Vivas & Nobles Law Office and are general legal information, not legal advice. How a provision applies to a particular situation depends on facts that only a lawyer reviewing your case can assess.