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Beja
Specom Notes 2016 I Cases| Doctrine| Digest| Outline
Judge Macumbal
BANK SECRECY
1. BSB VS GO
Court noted that the inquiry into bank
deposits allowable under R.A. No. 1405 must
be premised on the fact that the money
deposited in the account is itself the subject
of the action.[51] Given this perspective, we
deduce that the subject matter of the action
in the case at bar is to be determined from
the indictment that charges respondent with
the offense, and not from the evidence sought
by the prosecution to be admitted into the
records.
the criminal Information filed with the
trial court, respondent, unqualifiedly and in
plain language, is charged with qualified theft
by abusing petitioners trust and confidence
and stealing cash in the amount
of P1,534,135.50. The said Information makes
no factual allegation that in some material
way involves the checks subject of the
testimonial and documentary evidence sought
to be suppressed. Neither do the allegations
in said Information make mention of the
supposed bank account in which the funds
represented by the checks have allegedly
been kept.
In other words, it can hardly be
inferred from the indictment itself that the
Security Bank account is the ostensible
subject of the prosecutions inquiry. Without
needlessly expanding the scope of what is
plainly alleged in the Information, the subject
matter of the action in this case is the money
amounting to P1,534,135.50 alleged to have
been stolen by respondent, and not the
money equivalent of the checks which are
sought to be admitted in evidence. Thus, it is
that, which the prosecution is bound to prove
with its evidence, and no other.
the testimony of Marasigan on the
particulars of respondents supposed
bank account with Security Bank and
2. UCPB VS CA
Nielgem S. Beja
Specom Notes 2016 I Cases| Doctrine| Digest| Outline
Judge Macumbal
(6) In
cases
where
the
money
deposited or invested in the subject
matter of the litigation.
Nielgem S. Beja
Specom Notes 2016 I Cases| Doctrine| Digest| Outline
Judge Macumbal
(b)
(c)
(d)
Nielgem S. Beja
Specom Notes 2016 I Cases| Doctrine| Digest| Outline
Judge Macumbal
thereof: Provided,
That immediately before
filing the above sworn
statement, the bank, building
and loan association, and trust
corporation shall
communicate with the
person in whose favor the
unclaimed balance stands at
his last known place of
residence or post office
address.
If the depositor simply does not wish to
touch the funds in the meantime, but
still asserts ownership and dominion
over the dormant account, then the
bank is no longer obligated to include
the account in its sworn statement.
In case the bank complies with the
provisions
of
the
law
and
the unclaimed balances are eventually
escheated to the Republic, the bank
shall not thereafter be liable to any
person for the same and any action
which may be brought by any person
against in any bank xxx for unclaimed
balances so deposited xxx shall be
defended by the Solicitor General
without cost to such bank
Nielgem S. Beja
Specom Notes 2016 I Cases| Doctrine| Digest| Outline
Judge Macumbal
____________________________
____________________________
________________
AMLA
1. REP VS. GLASGOW
2. AMLC VS EUGENIO
SEC. 11. Authority to
Inquire into Bank
Deposits. Notwithstanding
the provisions of Republic Act
No. 1405, as amended,
Republic Act No. 6426, as
amended, Republic Act No.
8791, and other laws, the AMLC
may inquire into or examine
any particular deposit or
investment with any banking
Nielgem S. Beja
Specom Notes 2016 I Cases| Doctrine| Digest| Outline
Judge Macumbal
3. LIGOT VS REP.
______________________________________________
___
Nielgem S. Beja
Specom Notes 2016 I Cases| Doctrine| Digest| Outline
Judge Macumbal
o
o
o
o
-
RTC:
RTC
CA affirmed in toto
ISSUES
1. WON the disputed transaction between
Asia P. Violated banking laws , hence
null and void
2. Won the surrender of the 2
equipments, resulted in
extinguishment of Cgs obligation
SC:
1. Baas et.al allege that Asia P. was an
investment house
- And could not engage in the
lending of funds obtained from the
public through receipt of deposits
- The PN/Deed of CK and
Undertaking
o WERE NOT INTENDED to be
valid and binding
o They were devices to
conceal their real intention
o To enter into a contract of
loan in violation of Banking
Laws
1. SC :
- Investment company
Nielgem S. Beja
Specom Notes 2016 I Cases| Doctrine| Digest| Outline
Judge Macumbal
Nielgem S. Beja
Specom Notes 2016 I Cases| Doctrine| Digest| Outline
Judge Macumbal
2. BDO-EPCI vs JAPRL
Facts:
-
In 2003-
Petitioners
- Asserts that the respondents
maliciously evaded the service of
summons to prevent the RTC from
acquiring jurisdiction over their
persons
- And that they employed bad faith
to exploit procedural technicalities
SC
Nielgem S. Beja
Specom Notes 2016 I Cases| Doctrine| Digest| Outline
Judge Macumbal
Protective remedy of
rehabilitation was never
intended to be a refuge of a
debtor guilty of fraud
Facts :
BANKS
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Nielgem S. Beja
Specom Notes 2016 I Cases| Doctrine| Digest| Outline
Judge Macumbal
CB
-
LTCP
Is an evidence of indebtedness
w/ a maturity of period of more
than 365 days
issued by a corporation to any
person or entity
it is in effect a loan obtained by a
corporation (as borrower)
from the investing public (as
lender)
this is an instrument that
investment banks can legally buy
on behalf of their clients
upon the clients express
instructions
for investment purposes
they usually have higher yields
than most investment inst.
Case at bar:
The LTCP issued by C&P
Amalia
-
11
Nielgem S. Beja
Specom Notes 2016 I Cases| Doctrine| Digest| Outline
Judge Macumbal
SC:
Affirmed CA
Issue 1:
Amalia is bound
- Contracts have force of law
between the parties
- UNDER DIMA
o The agreement is an agency
not a trust agreement
o Exemption from liability
o The transaction is legal
Investment management activities may be
exercised by a banking institution
Sec 72 of Gen. Banking law
Banks may
(b) Act as financial agent and buy and sell, by
order of and for the account of their
customers, shares, evidences of indebtedness
and all types of securities
The banks shall perform the services
permitted under subsections (a), (b) and
(c) of this section as depositories or as
agents. Accordingly, they shall keep the
funds, securities and other effects which
they thus receive duly separated and
apart from the bank's own assets and
liabilities.
SECTION 74
No bank or banking institution shall
enter, directly, or indirectly into any
contract of guaranty or suretyship, or
shall guarantee the interest or principal
of any obligation of any
person, copartnership, association,
corporation or other entity.
-
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Nielgem S. Beja
Specom Notes 2016 I Cases| Doctrine| Digest| Outline
Judge Macumbal
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Nielgem S. Beja
Specom Notes 2016 I Cases| Doctrine| Digest| Outline
Judge Macumbal
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Nielgem S. Beja
Specom Notes 2016 I Cases| Doctrine| Digest| Outline
Judge Macumbal
15
Nielgem S. Beja
Specom Notes 2016 I Cases| Doctrine| Digest| Outline
Judge Macumbal
On Citytrust: CONTRIBUTORY
NEGLIGENCE
CT failed to timely examine its account
-
It is guilty OF
CONTRIBUTORY
NEGLIGENCE
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Nielgem S. Beja
Specom Notes 2016 I Cases| Doctrine| Digest| Outline
Judge Macumbal
it is presupposed that in a
loan the lender should
perform its obligation
SC
8. Consolidated bank vs CA
17
Nielgem S. Beja
Specom Notes 2016 I Cases| Doctrine| Digest| Outline
Judge Macumbal
9. Go. Vs BSP
A case was filed against go alleging
that
-
18
Nielgem S. Beja
Specom Notes 2016 I Cases| Doctrine| Digest| Outline
Judge Macumbal
Gos claim:
-
2.
b.
he becomes a guarantor,
indorser, or surety for loans
from such bank to others, or
c.
he
becomes
in
any
manner
an
obligor
for
money borrowed from bank
or loaned by it;
1. Approval
Requirement
written approval of the
majority of the banks board
of directors
2. Reportorial
Requirement
That any of its approval
must be entered into the
records of the corporation
The copy of which must be
given to the appropriate
supervising department
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Nielgem S. Beja
Specom Notes 2016 I Cases| Doctrine| Digest| Outline
Judge Macumbal
The 3 requirements
-
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Nielgem S. Beja
Specom Notes 2016 I Cases| Doctrine| Digest| Outline
Judge Macumbal
SC
SC :
-
_______________________________________
_______________________________________
________
5.
The decision must be
rendered on the evidence presented at
the hearing, or at least contained in
the record and disclosed to the parties
affected;
6.
The tribunal or body or
any of its judges must act on its or his
own independent consideration of the
law and facts of the controversy and
not simply accept the view of a
subordinate in arriving at a decision;
7.
The board or body
should, in all controversial question,
renders its decision in such manner
that the parties to the proceedings can
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Nielgem S. Beja
Specom Notes 2016 I Cases| Doctrine| Digest| Outline
Judge Macumbal
What is important is
that the parties were
given the
opportunity to be
HEARD
2. Koruga vs Arcenas
BSPS Jurisdiction | BASED on Karugas
Complaint
-
22
Nielgem S. Beja
Specom Notes 2016 I Cases| Doctrine| Digest| Outline
Judge Macumbal
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Nielgem S. Beja
Specom Notes 2016 I Cases| Doctrine| Digest| Outline
Judge Macumbal
shall be limited to an
amount equivalent to their
respective unencumbered
deposits and book value of
their paid-in capital
contribution in the bank:
Provided, however, That
loans, credit
accommodations and
guarantees secured by
assets considered as nonrisk by the Monetary Board
shall be excluded from such
limit:
Provided, further, That
loans, credit
accommodations and
advances to officers in the
form of fringe benefits
granted in accordance with
rules as may be prescribed
by the Monetary Board shall
not be subject to the
individual limit.
Sec. 37
The admin sanctions need
not be applied in their order
of severity
24
Nielgem S. Beja
Specom Notes 2016 I Cases| Doctrine| Digest| Outline
Judge Macumbal
Hence, there is a
violation of due
process
4. Central Bank vs CA
The respondent banks have shown no
necessity for the writ of preliminary
injunction to prevent serious damage. - The serious damage contemplated by
the trial court was the possibility of the
imposition of sanctions upon
respondent banks, even the sanction
of closure.
- Under the law, the sanction of
closure could be imposed upon a
bank by the BSP even without
notice and hearing.
- The apparent lack of procedural
due process would not result in the
invalidity of action by the MB.
- close now, hear later scheme is
grounded on practical and legal
considerations to prevent
unwarranted dissipation of the
banks assets and as a valid
exercise of police power to protect
the depositors, creditors,
stockholders,
- and the general public.
The writ of preliminary injunction
cannot, thus, prevent the MB from
taking action, by preventing the
submission of the ROEs and worse,
25
Nielgem S. Beja
Specom Notes 2016 I Cases| Doctrine| Digest| Outline
Judge Macumbal
DAMAGES
whether an action for damages arising from the
(1)MB's act of placing the PBP under
conservatorship and (2) the acts of the
conservator, and to enjoin the MB from
implementing resolutions related or incident to, or
in connection with the conservatorship, may be
brought only for and in behalf of the PBP by the
stockholders on record representing the majority of
the capital stock thereof or simply upon authority
of its Board of Directors, or by its Chairman.
26
Nielgem S. Beja
Specom Notes 2016 I Cases| Doctrine| Digest| Outline
Judge Macumbal
6. Vivas vs Monetary
Board
RBFI is a bank whose corporate life ended
on 2005
But Vivas and others was able to obtain
the controlling interest in 2006.
With VIVAS the corporate life was
extended to 50 yrs
From RBFI is was changed to Euro Credit
community
After the examination conducted by the
BSP
- It cancelled the rediscounting
line of the bank
27
Nielgem S. Beja
Specom Notes 2016 I Cases| Doctrine| Digest| Outline
Judge Macumbal
an examination
shall be
conducted by
the head of the
appropriate
supervising or
examining
department or
his examiners
or agents into
the condition of
the bank;
2. it shall be
disclosed in the
examination
that the
condition of the
bank is one of
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Nielgem S. Beja
Specom Notes 2016 I Cases| Doctrine| Digest| Outline
Judge Macumbal
insolvency, or
that its
continuance in
business would
involve
probable loss to
its depositors or
creditors;
3. the department
head concerned
shall inform the
Monetary Board
in writing, of
the facts;
4. the Monetary
Board shall find
the statements
of the
department
head to be true.
Not examination
Using the literal meaning of
"report" does not lead to
absurdity, contradiction or
injustice.
Neither does it defeat the
intent of the legislators.
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