Section 32. Removal of the Rehabilitation Receiver. — The rehabilitation receiver may be removed at any time by the court, either motu proprio or upon motion by any creditor/s holding more than fifty percent (50%) of the total obligations of the debtor, on such grounds as the rules of procedure may provide which shall include, but are not limited to, the following:

1. Incompetence, gross negligence, failure to perform or failure to exercise the proper degree of care in the performance of his duties and powers;

2. Lack of a particular or specialized competency required by the specific case;

3. Illegal acts or conduct in the performance of his duties and powers;

4. Lack of qualification or presence of any disqualification;

5. Conflict of interest that arises after his appointment; and

6. Manifest lack of independence that is detrimental to the general body of the stakeholders.