Republic of the Philippines
REGIONAL TRIAL COURT
Third Judicial Region
Malolos City, Bulacan
BRANCH 9

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O R D E R

A verified Petition For Assistance In The Liquidation Of Winbank, Inc. (A Thrift Bank) was filed on November 17, 2011 by petitioner Philippine Deposit Insurance Corporation (PDIC), through counsel, praying for the issuance of an Order to wit:

1. After finding the Instant Petition for Assistance in the Liquidation of Winbank, Inc. (A Thrift Bank) to be sufficient in form and substance, issue an Order:

   1. DIRECTING the petitioner to cause the posting in three (3) public places and the one-time publication in a newspaper of general circulation of the Honorable Court’s Order;

   2. SETTING the date and time for the initial hearing; and

   3. DIRECTING those who may have a claim against the assets of the bank to file their respective claims with the petitioner within ninety (90) days from the date of publication of the above-mentioned Order.

2. Thereupon, upon submission of proof of jurisdictional requirements, that an Order be issued by the Honorable Court GIVING DUE COURSE to the Instant Petition for Assistance in the Liquidation of WINBANK, INC. (A THRIFT BANK).”

   The Petition estates that petitioner, a government instrumentality created and existing by virtue of Republic Act No. 3591, as Amended, was designated Liquidator of Winbank, Inc. ( Winbank, for brevity). The aforesaid bank, before its closure, was placed under receivership on May 4, 2009 by the Monetary Board of the Bangko Sentral ng Pilipinas (BSP, for short), pursuant to its Board Resolution No. 644 dated April 30, 2009.

   Petition took over the assets and affairs of WINBANK as mandated under Section 30 of Republic Act 7653, otherwise known as “ The New Central Bank Act” and submitted a Receivership Report to the Monetary Board on July 14, 2011 since the bank “a) is unable to pay its liabilities x x x; b) has insufficient realizable assets x x x and c) cannot continue in business without involving probable losses to its depositors and creditors x x x.”

   On July 29, 2011, the Monetary Board Issued Resolution No. 1153 designating petitioner as the liquidator of WINBANK and directing petitioner to proceed with the liquidation of the Bank.

   This instant petition therefore, is being filed by petitioner pursuant to Section 30, of RA 7659, the New Central Bank Act, which provides that the receiver shall “1. file ex-parte with the proper regional trial court, and without requirement of prior notice or any other action, a petition for assistance in the liquidation of the institution pursuant to a liquidation plan adopted by the Philippine Deposit Insurance Corporation for general application to all closed banks. In case of quasi-banks, the liquidation plan shall be adopted by the Monetary Board. Upon acquiring jurisdiction, the court shall, upon motion by the receiver after due notice, adjudicate disputed claims against the Institution, assist the enforcement of individual liabilities of the stockholders, directors and officers, and decide on other issues as may be material to implement the liquidation plan adopted. The receiver shall pay the cost of the proceedings from the assets of the institution.”

   Pursuant to the aforequoted provision of RA 7659, petitioner attached to its petition a copy of Master Receivership/Liquidation Plan (MRLP), adopted and approved by its Board of Directors in Resolution No. 2007-12-207 dated December 20, 2007 for general application in the liquidation of all closed banking institutions.

   WHEREFORE, finding the same to be sufficient in form and substance as required by law, notice is hereby given that the petition is set for hearing on July 19, 2012 at 8:30 in the morning before this Branch of the Court.

   Let copies of this Order be published at the expense of the petitioner in a newspaper of general circulation at least 90 days before the date of hearing on July 19, 2012.

   Also, let copies of this Order be posted, at the expense of the petitioner, by the Branch Sheriff of this Court in three (3) public places.

   All creditors or entities who may have a claim against the assets of the bank are directed to file their respective claims with the petitioner within ninety (90) days from the date of publication of this Order in a newspaper of general circulation.

   SO ORDERED.

   Malolos City, Bulacan, December 26, 2011.

   VERONICA A. VICENTE-DE GUZMAN Presiding Judge