REPUBLIC OF THE PHILIPPINES
REGIONAL TRIAL COURT
THIRD JUDICIAL REGION
CITY OF MALOLOS, BULACAN
BRANCH 22

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ORDER

This is a verified petition for assistance in the liquidation of Rural Bank of Norzagaray (Bulacan), Inc. filed by petitioner Philippine Deposit Insurance Corporation (PDIC) through counsel Atty. Romeo M. Mendoza, Jr. on November 28, 2012 and received by this Court on December 03, 2012, praying that after finding the instant petition to be sufficient in form and substance, an Order be issued directing the petitioner PDIC to cause the posting in three public places and the one-time publication in a newspaper of general circulation of this Court’s Order; setting the date and time for the initial hearing; 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 said Order; thereafter, upon proof of jurisdictional requirements, that an Order be issued by this Court giving due course to the instant petition for assistance in the liquidation of Rural Bank of Norzagaray; and approving the reimbursement to the petitioner of the receivership fees and expenses once the petition is given due course.

In support thereof, petitioner alleges, among others, that (1) on 27 January 2011, pursuant to Monetary Board Resolution No. 104 of the Bangko Sentral ng Pilipinas (BSP), the Monetary Board prohibited RB of Norzagaray from doing business in the Philippines and placed RB Norzagaray under its receivership; (2) consistent with, and on the strength of said Resolution, it took over the assets and affairs of RB Norzagaray on 28 January 2011; (3) under Section 30 of Republic Act 7653, otherwise known as “The New Central Bank Act”. it, as the Receiver of RB Norzagaray, is mandated to determine whether the institution may be rehabilitated or otherwise placed in such a condition so that it may be permitted to resume business with safety to its depositor and creditors and the general public or be placed under liquidation; (4) pursuant thereto, on 19 March 2012, it reported to the Monetary Board of the BSP that RB Norzagaray as its, present financial condition cannot be rehabilitated nor can be permitted to resume business with safety to its depositors, creditors and the general public; (5) on 03 April 2012, the Monetary Board of the BSP issued Resolution No. 562 directing herein petitioner to proceed with the liquidation of RB Norzagaray; (6) on 13 April 2012 in compliance with Section 30, supra and Resolution No. 180 of the Monetary Board, BSP notified in writing the individual members of the Board of Directors of RB Norzagaray of the Monetary Board’s decision to proceed with the Bank’s liquidation; (7) this petition is being filed pursuant to Section 30 which allows the payment of the cost of the proceedings, including reasonable expenses and fees of the receiver from the assets of the closed banking institution; (8) it being the Statutory Receiver of RB Norzagaray incurred and/or advanced the amount of Php. 89,807.58 as of 31 December 2011 by way of Receivership Fees and Expenses; and (9) it anticipates that in the course of liquidation of RB Norzagaray, disputed claims, issues and other matters material or relevant to the liquidation of RB Norzagaray may arise hence, seeks the assistance of this Court in the resolution of the disputed claims and relevant issues.

After carefully evaluating the instant petition, the Court finds it sufficient in form and substance, the same is given due course.

Let this petition be set for initial hearing on April 24, 2013 at 8:30 in the morning.

The public and all persons whose interest may be adversely affected by the petition are directed to file their opposition thereto with this Court on or before the date set above; otherwise they shall be barred from questioning/opposing the same.

Petitioner is directed to cause the publication of this Order once in a newspaper of general circulation, and the posting hereof by the Process Server of the Court at the bulletin board of this Court, at the Provincial Capitol Building of Malolos City, Bulacan, and in the Municipal Building of Norzagaray, Bulacan, for at least two (2) consecutive weeks prior to the date of initial hearing, all at the expense of the petitioner.

All persons who 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 the publication hereof.

SO ORDERED.

City of Malolos (Bulacan), December 28, 2012.