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Bacolod-Murcia Milling Co., Inc. Vs. Central Bank Of The Phil. 118 Phil. 1106

BACOLOD-MURCIA MILLING CO., INC., petitioner-appellant, vs. CENTRAL BANK OF THE PHILIPPINES, respondent-appellee.

G.R. No. L-12610 | 1963-10-25

D E C I S I O N


LABRADOR, J.:

This is an appeal from a decision of the Court of First Instance of Manila, Hon. Magno Gatmaitan, presiding, dismissing a petition for prohibition filed by petitioner-appellant, praying that the court declare Circular No. 20 of the Central Bank, particularly section 4(a) thereof, null and void, and that the Central Bank be perpetually enjoined from enforcing the same. The complaint contains a petition for the issuance of a writ of preliminary injunction.
Circular No. 20 of the Central Bank was promulgated on December 9, 1949 and section 4(a) thereof provides:
"4. a) All receipts of foreign exchange shall be...