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Jerry Ong Vs. Philippine Deposit Insurance Corp.

JERRY ONG, Petitioner, versus PHILIPPINE DEPOSIT INSURANCE CORP., Respondent

G.R. No. 175116 | 2010-08-18

DECISION


PERALTA, J.:

Before us is a petition for review on certiorari filed by petitioner Jerry Ong seeking to annul and set aside the Decision[1] dated July 31, 2006 and the Resolution[2] dated October 5, 2006 issued by the Court of Appeals (CA) in CA-G.R. SP No. 93441.

Sometime in 1982 and 1983, petitioner Jerry Ong made some money market placements with Omnibus Finance Inc. (OFI), which later on suffered serious financial difficulties. As petitioner's money market placements matured, he demanded from OFI the return of the same. However, OFI's checks issued thereby were dishonored by the drawee bank. It was alleged that OFI sought...