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Far East Bank and Trust Company (FEBTC) vs. PDIC

FAR EAST BANK AND TRUST COMPANY, PETITIONER, VS. PHILIPPINE DEPOSIT INSURANCE CORPORATION, RESPONDENT.

G.R. No. 172983 | 2015-07-22

SECOND DIVISION
 
DECISION

BRION, J.:

Before the Court is a petition for review on certiorari[1] filed by the petitioner Far East Bank and Trust Company (FEBTC), assailing the May 31, 2006 decision[2] of the Court of Appeals (CA) in CA-G.R. C.V. No. 56624.
 
The CA decision reversed and set aside the orders dated February 26, 1997, and May 21, 1997, of the Regional Trial Court (RTC), Branch 31, Manila, in Special Proceeding No. 86-35313.

The Factual Antecedents

On July 5, 1985, the Central Bank of the Philippines (Central Bank) issued Monetary Board (MB) Resolution No. 699, placing Pacific Banking Corporation (PBC) under receivership.[3]...