Page 454 - Important Provisions of The New Civil Code

When the business of a partnership after

dissolution is continued under any conditions

set forth in this Article the creditors of the

dissolved partnership, as against the separate

creditors of the retiring or deceased partner or

the representative of the deceased partner,

have a prior right to any claim of the retired

partner or the representative of the deceased

partner against the person or partnership

continuing the business, on account of the

retired or deceased partner's interest in the

dissolved partnership or on account of any

consideration promised for such interest or for

his right in partnership property.