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Gsis vs CA Digest Uploaded by Jonathan Dela Cruz
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Equitable PCI Bank v. Ng
PNB vs. PIKE
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In this case DOMSAT obtained a loan in the amount of 11 million dollars fro the ban!s" #an!s$ industrial ban! of !orea% !orea% ton& 'an& merchant ban!% (rst merchant ban!in& cor)% land ban! of the *hili))ines% and +estmont ban!. The )ur)ose of the loan is the rene,al rene,al of the lease lease or ac-uisition ac-uisition of a &or satellite from inters)utni!. inters)utni!. *art of the loan a&reement ,as that &sis ,ould be made a suret'. Domsat failed to ma!e )a'ments. Gsis ,as then bein& )ressured b' the ban!s" to ma!e the )a'ments for DOMSAT. Gsis refused. Gsis claims$ that domsat did not use the loan )roceeds for the )a'ment of rental for the satellite. Gsis further claims that domsat throu&h +estmont ban!% transferred the 11 million dollars loan )roceeds from the industrial b of !orea to Citiban! ne, /or! account of +estmont ban! and from there to the binondo branch of +estmont ban!. Due to the refusal of &sis% the ban!s ,ere forced to (le a com)laint ,ith th rtc. Gsis then re-uested the court to issue a sub)oena duces tecum ,ith re&ar the ban! accounts of DOMSAT ,ith +estmont ban!. Initiall' the rtc &ranted the sub)oena% but u)on the second mr of +estmon this ,as then denied. Documents re-uested b' &sis: o 0ed&ers of domsat ,ith +estmont ban! A))lication for cashiers chec! of domsat o o 0ed&er coverin& the account of *hili))ine *hili))ine a&ila satellite ,ith +estmont. Sign up to vote on this title Ca rulin&: that the ban! accounts that is covered ,ith the re-uested useful Usefulcannot Notbe sub)oena is under ra 2342. As such% the accounts e5amined% in-uired% or loo!ed into ,ithout the ,ritten consent of its o,ner The ca further further referred referred to the the case of inten&an inten&an vs ca. In that that case the sc
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Gsis vs CA Digest Uploaded by Jonathan Dela Cruz
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Equitable PCI Bank v. Ng
PNB vs. PIKE
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a 1389$ o That ban! de)osits are thereb' considered con(dential and ma' no e5amined or in-uired into ' an' )erson% &overnment o;cial. #urea o;ce e5ce)t: <)on ,ritten )ermission of the de)ositor In cases of im)eachment <)on order of a com)etent court in the case of briber' or dereliction of dut' of )ublic o;cials +hen the mone' de)osited or invested is the sub=ect matter liti&ation In cases of violation of AM0A The lone e5ce)tion for the ban! secrec' la, >ra 2342?% for the none disclo of forei&n currenc' de)osits is disclosure u)on the ,ritten )ermission of th de)ositor. a 2342 solel' )ertains to forei&n currenc' de)osits. The sc stated: there is no con7ict bet,een the 4 la,s. a 1389 ,as enacted for the )ur)ose of &ivin& encoura&ement to the )eo to de)osit their mone' in ban!in& institutions and to discoura&e )rivate hoardin& so that the same ma' be )ro)erl' utilied b' ban!s in authoried loans to assist in the economic develo)ment of the countr'. There ,as no distinction You're as to ,hether 1389 )ertains to local currenc' o Reading ara Preview forei&n currenc'. Unlock full access with a free trial. a 2342 on the other hand ,as intended to encoura&e de)osits from forei lenders and investors. With Free a 2342 is a s)ecial la,% Download ,hile ra 1389 is a Trial &eneral la, Therefore% since the sub=ect matter of the sub)oena )ertains to forei&n currenc'% then ra 2342 is a))licable. @ence% &sis ma' not ins)ect such accounts% unless the de)ositor ,ould &ive its consent.
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