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Lipana vs. Development Bank of the Philippines G.R. No. 73884, September 4, !"87MARCH 16, 2014LEAVE A COMMENT

After the Monetary Board has declared that a bank is insolvent and has

ordered it to cease operations, the Board becomes the trustee of its

assets for the equal benet of all the creditors, including depositors. To

execute the udgment !ould unduly deplete the assets of respondent

bank to the obvious preudice of other depositors and creditors.

Facts: Petitioners opene an !aintaine "ot# ti!e an sa$in%s eposits &it# t#e

responent 'e$e(op!ent )an* o+ Ria(- .#en so!e o+ t#e ti!e eposit certi/cates

!atre, petitioners &ere not a"(e to cas# t#e! "t instea &ere isse a

!ana%ers c#ec* ic# &as is#onore pon present!ent- 'e!ans +or t#e

pa!ent o+ "ot# ti!e an sa$in%s eposits #a$e +ai(e- Hence, petitioners /(e &it#

t#e RTC a co((ection sit &it# praer +or issance o+ a &rit o+ pre(i!inar attac#!ent

ic# &as %rante " t#e cort- T#e RTC renere 3%!ent in +a$or o+ petitioners-

Meani(e, t#e Monetar )oar p(ace t#e responent "an* ner recei$ers#ip-

"se5ent(, t#e !otion +or eection penin% appea( /(e " petitioners &as

%rante " t#e cort "t &as a(so stae " t#e tria( 3%e- T#e !otion /(e "

petitioners to (i+t t#e sta orer #a$in% "een enie, t#is petition &as /(e-

7sse: .#et#er or not responent 3%e co( (e%a(( sta eection o+ 3%!ent

t#at #as a(rea "eco!e /na( an eector

He(: 7n t#e instant case, t#e sta o+ t#e eection o+ 3%!ent is &arrante "

t#e +act t#at responent "an* &as p(ace ner recei$ers#ip- To eecte t#e

3%!ent &o( n( ep(ete t#e assets o+ responent "an* to t#e o"$ios

pre3ice o+ ot#er epositors an creitors, since, as apt( state in Centra( )an* o+

t#e P#i(ippines $s- Mor+e 869 CRA 114, a+ter t#e Monetar )oar #as ec(are t#at

a "an* is inso($ent an #as orere it to cease operations, t#e )oar "eco!es t#e

trstee o+ its assets +or t#e e5a( "ene/t o+ a(( t#e creitors, inc(in% epositors-

T#e assets o+ t#e inso($ent "an*in% instittion are #e( in trst +or t#e e5a( "ene/t

o+ a(( creitors, an a+ter its inso($enc, one cannot o"tain an a$anta%e or a

pre+erence o$er anot#er " an attac#!ent, eection or ot#er&ise-

A+ter t#e Monetar )oar #as ec(are t#at a "an* is inso($ent an #as orere it to

cease operations, t#e )oar "eco!es t#e trstee o+ its assets +or t#e e5a( "ene/t

o+ a(( t#e creitors, inc(in% epositors- T#e assets o+ t#e inso($ent "an*in%

instittion are #e( in trst +or t#e e5a( "ene/t o+ a(( creitors, an a+ter its

inso($enc, one cannot o"tain an a$anta%e or a pre+erence o$er anot#er " an

attac#!ent, eection or ot#er&ise- To eecte t#e 3%!ent &o( n( ep(ete

t#e assets o+ responent "an* to t#e o"$ios pre3ice o+ ot#er epositors an

creitors-

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