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Rural Bank Of Lucena, Inc., Et Al. vs. Central Bank Of The Phil., Et Al.

RURAL BANK OF LUCENA, INC., ET AL., plaintiffs-appellants, vs. CENTRAL BANK OF THE PHILIPPINES, ET AL., defendants-appellants, RED V COCONUT PRODUCTS, LTD., intervenor.

G.R. No. L-19621 | 1969-11-29

D E C I S I O N 


DIZON, J.: 

Separate appeals taken by the Central Bank of the Philippines - hereinafter referred to as Central Bank - and the Rural Bank of Lucena, Inc. - hereinafter referred to as Lucena - from the decision of the Court of First Instance of Manila in Civil Case No. 47345 entitled "Rural Bank of Lucena, Inc. et al. vs. Central Bank of the Philippines, et al." enjoining the enforcement of resolution No. 928 of the Monetary Board of the Central Bank and sentencing the latter to pay Lucena the sum of P5,000.00 as damages, and the costs. 

Lucena was incorporated under the Rural Banks' Act (Republic Act No. 720)...