Republic of the Philippines

REGIONAL TRIAL COURT

8^th JUDICIAL REGION

BULWAGAN NG KATARUNGAN

Branch 24, Maasin City, Southern Leyte

Sp. Proc. No. OO636

ORDER

A verified petition for Assistance in the Liquidation of the Rural Bank (RB) of Padre Burgos (Southern Leyte), Inc. was filed by the Philippine Deposit Insurance Corporation (PDIC) averring among others that pursuant to Resolution No. 1392-A issued by the Monetary Board of the Bangko Sentral ng Pilipinas (BSP) the Rural Bank of Padre Burgos (Southern Leyte), Inc. was placed under receivership by the PDIC; that pursuant thereto, the petitioner took over the assets and affairs of RB Padre Burgos; that in a letter dated January 29, 2015, the PDIC reported to the Monetary Board that RB Padre Burgos could not be rehabilitated nor can it be permitted to resume business with safety to its depositors, creditors and the general public, that on February 13, 2015 the Monetary Board of BSP issued Resolution No. 222 which directed the petitioner to proceed with the liquidation of RB Padre Burgos and the Management to notify in writing the Board of Directors of RB Padre Burgos of the PDIC's findings, that pursuant to said resolution, BSP notified in writing the individual members of the Board of Directors of RB Padre Burgos of the Monetary Board's decision to proceed with the bank's liquidation; and that pursuant to Sec. 30 of Republic Act No. 7653 petitioner seeks the assistance of this Court in the resolution of the disputed claims and relevant issues.

Finding the petition to be sufficient in form and substance , set the initial hearing of the petition on November 24, 2015 at 8:30 o'clock in the morning, at the Bulwagan ng Katarungan, Regional Trial Court, Branch 24, City of Maasin, Southern Leyte.

The petitioner is hereby directed to let a copy of this Order be published once in a newspaper of general circulation in the Philippines. Let copies of this Order likewise be posted in the bulletin Board of this Court, the Provincial Capitol of Southern Leyte and the Municipal Hall of Padre Burgos, Southern Leyte , as required by the law

Finally, let a copy of this petition and its annexes be furnished at the expense/ instance of the petitioner to the Bangko Sentral ng Pilipinas (BSP), the Office of the Solicitor General (OSG) and the President of the Rural Bank of Padre Burgos (Southern Leyte) Inc. for their information and for them to enter their appearance in the above-entitled petition.

All persons and/or entities with claims against the assets of the Rural Bank (RB) of Padre Burgos (Southern Leyte), Inc. is/are directed to file their respective claims with the petitioner (PDIC) within ninety (90) days from the date of publication of this Order.

SO ORDERED.

IN CHAMBERS, this 2nd day of September, 2015, at the City of Maasin, Province of Southern Leyte.

(Sgd.)BETHANY G. KAPILI
Judge                

BGK/mld