Case Digest Ucpb Et - Al V E. Ganzon
Case Digest Ucpb Et - Al V E. Ganzon
Case Digest Ucpb Et - Al V E. Ganzon
GANZON, INC
III. TOPIC:
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Banking laws Appeal of BSP decision to CA
Initially, EGI was able to make periodic amortization payments of its loans to
UCPB, however after sometime it defaulted in its payment of amortizations,
thus, making all of its obligations due and demandable. Thereafter, UCPB
stopped sending EGI monthly statements of its accounts.
Consequently, EGI wrote UCPB a letter dated 21 May 2001, [12] which
included, among other demands, the refund by UCPB to EGI of the over-
Eugenio, Maricar V.
CASE DIGEST UCPB ET. AL V. E. GANZON, INC
Court of Appeals rendered its assailed Decision granting the Petition for
Review of EGI, thus, setting aside the BSP letter-decision dated 16
September 2003 and remanding the case to the BSP Monetary Board for
further proceedings.
UCPB, et al., aver that the Court of Appeals has no appellate jurisdiction over
decisions, orders and/or resolutions of the BSP Monetary Board on
administrative matters.
These are two consolidated Petitions for Review on Certiorari under Rule 45
of the 1997 Revised Rules of Civil Procedure.
United Coconut Planters Bank (UCPB) is a universal bank duly organized and
existing under Philippine Laws. In G.R. No. 168859, UCPB and its corporate
officers, i.e., Jeronimo U. Kilayko, Lorenzo V. Tan, Enrique L. Gana, Jaime W.
Jacinto and Emily R. Lazaro (UCPB, et al.) seek the reversal and setting aside
of the Decision dated 14 October 2004 and Resolution dated 7 July 2005 of
the Court of Appeals in CA-G.R. SP No. 81385 and the affirmation, instead, of
the letter-decision dated 16 September 2003 of the Monetary Board of
the Bangko Sentral ng Pilipinas (BSP). The Court of Appeals, in its assailed
Decision, set aside the aforesaid letter-decision of the BSP Monetary Board
and remanded the case to the latter for further proceedings; and in its
questioned Resolution, denied for lack of merit the Motion for
Reconsideration of UCPB, et al., as well as the Partial Motion for
Reconsideration of E. Ganzon, Inc. (EGI).
Eugenio, Maricar V.
CASE DIGEST UCPB ET. AL V. E. GANZON, INC
On the other hand, EGI is a corporation duly organized and existing under
Philippine laws and engaged in real estate construction and development
business. In G.R. No. 168897, EGI prays for this Court to review the same
Decision dated 14 October 2004 and Resolution dated 7 July 2005 of the
Court of Appeals in CA-G.R. SP No. 81385, and to order the appellate court to
(1) act on its findings in the case instead of remanding the same to the BSP
Monetary Board for further proceedings; (2) direct the BSP Monetary Board to
impose the applicable administrative sanctions upon UCPB, et al.; and (3) to
amend its assailed Decision and Resolution by deleting therefrom the
statements requiring the BSP Monetary Board to scrutinize and dig deeper
into the acts of UCPB, et al., and to determine if, indeed, there were irregular
and unsound practices in its business dealings with EGI.
VI. ISSUE:
1. Whether or not the appellate court has jurisdiction over the
decisions of the BSP Monetary Board.
VII. RULING:
Gana, Jaime W. Jacinto and Emily R. Lazaro, in G.R. No. 168859; as well as the
Petition for Review on Certiorari of E. Ganzon, Inc. in G.R. No. 168897, are
hereby DENIED. The Decision dated 14 October 2004 and Resolution dated 7
July 2005 of the Court of Appeals in CA-G.R. SP No. 81385 are
hereby AFFIRMED in toto. No costs.
Eugenio, Maricar V.