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Alfeo D. Vivas, on his behalf and on behalf of the Shareholders or Eurocredit Community Bank Vs. The Monetary Board of the Bangko Sentral ng Pilipinas adn the Philippine Depoosit Insurance Corporation

ALFEO D. VIVAS, on his behalf and on behalf of the Shareholders of EUROCREDIT COMMUNITY BANK, Petitioner, - versus - THE MONETARY BOARD OF THE BANGKO SENTRAL NG PILIPINAS and the PHILIPPINE DEPOSIT INSURANCE, Respondents.

G.R. No. 191424 | 2013-08-07

THIRD DIVISION

DECISION
MENDOZA, J.:

This is a petitionfor prohibition with prayer for the issuance of a status quo ante order or writ of preliminary injunction ordering the respondents to desist from closing EuroCredit Community Bank, Incorporated (ECBI) and from pursuing the receivership thereof. The petition likewise prays that the management and operation of ECBI be restored to its Board of Directors (BOD) and its officers.

The Facts

The Rural Bank of Faire, Incorporated (RBFI) was a duly registered rural banking institution with principal office in Centro Sur, Sto. Nino, Cagayan. Record shows that the...