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Bank of Commerce vs. Hon. Estela Perlas-Bernabe, etc., et al.

BANK OF COMMERCE,</b> Petitioner,vs.HON. ESTELA PERLAS-BERNABE, in her capacity as Presiding Judge of the REGIONAL TRIAL OF MAKATI CITY, BRANCH 142; BANCAPITAL DEVELOPMENT CORPORATION; and EXCHANGE CAPITAL CORPORATION, Respondents.

G.R. No. 172393 | 2010-10-20

SECOND DIVISION
D E C I S I O N
 
PERALTA, J.:
 
A multimillion-peso treasury bill scam shook the Philippine financial markets in the mid-1990's. At the center of the fiasco lies respondent Bancapital Development Corporation (Bancapital) whose series of alleged fraudulent and unauthorized dealings in securities had left several other financial institutions almost in shambles-among them was herein petitioner Bank of Commerce. Bancapital was suspected of having funneled its funds to Exchange Capital Corporation (Excap) allegedly to insulate its assets from creditors stung by its scheme. The magnitude of the fraud had caught the...