Republic of the Philippines
REGIONAL TRIAL COURT
Fourth Judicial Region
BRANCH 65
Infanta, Quezon

O R D E R

Before the Court is a Petition for Assistance in the Liquidation of POLILLO ISLANDS RURAL BANK (QUEZON), INC. (“PIRBI for brevity”) filed by petitioner Philippine Deposit Insurance Corporation (PDIC) as its designated Liquidator, alleging among others; that PIRBI was a bank organized and existing in accordance with the laws of the Republic of the Philippines with principal place of business at corner San Jose St., and Mabini St. Poblacion, Polillo Islands , Province of Quezon; that on September 11, 2008, the Monetary Board of the Bangko Sentral ng Pilipinas issued Resolution No. 1169 placing PRIBI under the receivership of the PDIC and was prohibited from doing business in the Philippines, on the ground that at its present financial condition, it can not anymore resume business with safety to its depositors, creditors and the general public; that pursuant to the Receivership Report issued by the petitioner on November 26, 2008 the Monetary Board issued Resolution No. 1725 directing petitioner to proceed with the liquidation of the POLILLO ISLANDS RURAL BANK (QUEZON), INC. (“PIRBI for brevity”).

Finding the instant petition to be sufficient in form and substance, the same is set for initial hearing on September 25, 2009 at 8:30 in the morning. The petitioner is ordered to cause this order to be posted in three (3) public places, namely: at the Municipal Building of Polillo, Quezon; at the business address of POLILLO ISLANDS RURAL BANK (QUEZON), INC. (“PIRBI for brevity”) at corner San Jose St. and Mabini St., Poblacion, Polillo, Quezon and in the bulletin board of this Court and to publish the same once in the newspaper of general circulation within ten (10) days from receipt of this order.

Likewise, all persons and entities who may have claim/s against the assets of POLILLO ISLANDS RURAL BANK (QUEZON), INC. (“PIRBI for brevity”) are directed to file their respective claims with the petitioner within ninety days from the date of publication of this Order.

SO ORDERED.

Infanta, Quezon, July 24, 2009.