Back

Banco Filipino Savings And Mortgage Bank Vs. National Labor Relations Commission, Et Al.

BANCO FILIPINO SAVINGS AND MORTGAGE BANK (Represented by its liquidator, MS. CARLOTA P. VALENZUELA), petitioner, vs. NATIONAL LABOR RELATIONS COMMISSION, Labor Arbiter EVANGELINE LUBATON and FORTUNATO DIZON, JR., respondents.

G.R. No. 82135 | 1990-08-20

D E C I S I O N


MEDIALDEA, J.:

After BANCO FILIPINO SAVINGS AND MORTGAGE BANK was placed under receivership, and later ordered liquidated by the Monetary Board of the Central Bank, FORTUNATO M. DIZON, Jr., who was then holding the position of Executive Vice President and Chief Operating Officer of the bank, received a letter from the Central Bank appointed liquidator, MS. CARLOTA P. VALENZUELA, informing him that all management authority in the bank had been assumed by the Central Bank appointed liquidators and that his employment is being terminated.

Mr. Dizon filed with the liquidator a request for the payment to him of the cash...