Case Summary (G.R. No. 208283)
Facts and Antecedent Proceedings
On January 20, 1999, the Respondents filed a Complaint for Rescission of Sale and Real Estate Mortgage against Engr. Edgardo Torcende and Prime Savings Bank. Subsequent developments included the imposition of receivership on Prime Savings Bank by the Monetary Board of the Bangko Sentral ng Pilipinas (BSP) on January 7, 2000, followed by liquidation on April 27, 2000. A Petition for Assistance in Liquidation was filed by the PDIC on July 19, 2000. In 2006, the RTC ruled in favor of the Sps. Santos, with damages assessed against Prime Savings Bank.
Subsequent Developments and RTC Orders
Following the RTC's decision, Prime Savings Bank received a Notice of Garnishment and filed a Motion to Lift it, arguing that due to its receivership and liquidation status, its assets were protected from such actions under Section 30 of Republic Act No. 7653, the New Central Bank Act. The RTC initially agreed, lifting the Writ of Execution and Notice of Garnishment. However, after a motion for reconsideration by the Sps. Santos, the RTC reversed its position, leading Prime Savings Bank to file a Petition for Certiorari with the Court of Appeals (CA) to contest this reversal.
Court of Appeals’ Resolutions
The CA, on February 16, 2012, denied Prime Savings Bank's application for a Temporary Restraining Order (TRO) and/or Writ of Preliminary Injunction (WPI), stating that the bank failed to demonstrate a clear legal right or urgent necessity for such relief. Prime Savings Bank's subsequent motion for reconsideration was also denied, prompting the filing of the current Petition for Review on Certiorari before the Supreme Court on September 11, 2013.
Issue Presented
The sole issue for determination was whether the CA's denial of Prime Savings Bank’s application for a TRO and/or WPI was correct.
The Court's Ruling
The Supreme Court dismissed the Petition, noting that it was filed improperly under Rule 45 instead of the appropriate Rule 65. The resolutions questioned were classified as inter
...continue readingCase Syllabus (G.R. No. 208283)
Background of the Case
- This case involves a Petition for Review on Certiorari filed by Prime Savings Bank, represented by the Philippine Deposit Insurance Corporation (PDIC), against the Spouses Roberto and Heidi L. Santos.
- The petition seeks to challenge two resolutions issued by the Court of Appeals (CA) dated February 16, 2012, and July 2, 2013, in CA-G.R. SP No. 03348-MIN.
Factual Antecedents
- The Spouses Santos filed a Complaint for Rescission of Sale and Real Estate Mortgage on January 20, 1999, against Engr. Edgardo Torcende and Prime Savings Bank, recorded as Civil Case No. 6492 in the Regional Trial Court (RTC) of General Santos City.
- On January 7, 2000, during the pendency of this case, the Bangko Sentral ng Pilipinas (BSP) issued Resolution No. 22, placing Prime Savings Bank under receivership and designating PDIC as the receiver.
- Subsequently, on April 27, 2000, the Monetary Board liquidated Prime Savings Bank, with PDIC as the designated Liquidator.
- A Petition for Assistance in the Liquidation was filed by PDIC on July 19, 2000, under Special Proceeding Case No. 11097 in the RTC of Pasig City.
- The RTC of General Santos City ruled in favor of the Spouses Santos on September 1, 2006, against both Engr. Torcende and Prime Savings Bank.
- Following this ruling, Prime Savings