Back

Pacific Banking Corporation Employees Organization, Et Al. Vs. Court Of Appeals, Et Al.

PACIFIC BANKING CORPORATION EMPLOYEES ORGANIZATION, PAULA S. PAUG, and its officers and members, petitioners, vs. THE HONORABLE COURT OF APPEALS and VITALIANO N. NA?AGAS II, as Liquidator of Pacific Banking Corporation, respondents.

G.R. No. 109373 | 1995-03-20

SECOND DIVISION

D E C I S I O N 

MENDOZA, J.: 

These cases have been consolidated because the principal question involved is the same: whether a petition for liquidation under §29 of Rep. Act No. 265, otherwise known as the Central Bank Act, is a special proceeding or an ordinary civil action. The Fifth and the Fourteenth Divisions of the Court of Appeals reached opposite results on this question and consequently applied different periods for appealing. 

The facts are as follows: 

I. 

Proceedings in the CB and the RTC 

On July 5, 1985, the Pacific Banking Corporation (PaBC) was placed under receivership by the...