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Banco Filipino Savings & Mortgage Bank v. BSP

BANCO FILIPINO SAVINGS AND MORTGAGE BANK, PETITIONER, V. BANGKO SENTRAL NG PILIPINAS AND THE MONETARY BOARD, RESPONDENTS.

G.R. No. 200678 | 2018-06-04

D E C I S I O N
 
LEONEN, J.:
 
A bank which has been ordered closed by the Bangko Sentral ng Pilipinas (Bangko Sentral) is placed under the receivership of the Philippine Deposit Insurance Corporation. As a consequence of the receivership, the closed bank may sue and be sued only through its receiver, the Philippine Deposit Insurance Corporation. Any action filed by the closed bank without its receiver may be dismissed.
 
This is a Petition for Review on Certiorari[1] assailing the Court of Appeals July 28, 2011 Decision[2] and February 16, 2012 Resolution[3] in CA-G.R. SP No. 116905, which dismissed Civil Case No....