Rodrigo Manalo died intestate in Quezon City, leaving personal properties valued at PHP 1,500,000.00. His heirs, adult children Armando and Bibiana Manalo, executed an extrajudicial settlement of the estate dividing the properties equally between them, without disclosing or accounting for the deceased's outstanding obligation to Corazon Dela Rosa in the amount of PHP 600,000.00. The settlement document was duly published for three consecutive weeks in a newspaper of general circulation. Six months after the execution of the extrajudicial settlement, Corazon filed an action in court against Armando and Bibiana to recover the PHP 600,000.00 debt owed by the deceased. Armando and Bibiana argued that the estate proceedings had been closed by the extrajudicial settlement and that no further claim against them was legally possible. Is the argument of Armando and Bibiana correct? (Bar 2026 Syllabus)