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Petition for Assistance in the Liquidation of the Cooperative Bank of Zamboanga del Sur

Republic of the Philippines
REGIONAL TRIAL COURT
Ninth Judicial Region
BRANCH 19
Pagadian City

IN RE: PETITION FOR ASSISTANCE IN THE LIQUIDATION OF THE COOPERATIVE BANK OF ZAMBOANGA DEL SUR
SP. PROC. NO. 6444-2K9
PHILIPPINE DEPOSIT INSURANCE CORP. (PDIC)
Petitioner.

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AMENDED ORDER

Before this court is a Petition for Assistance in the Liquidation of the Cooperative Bank of Zamboanga del Sur (CBZDS), filed by the Philippine Deposit Insurance Corporation (PDIC) which stated THAT:

Petitioner took over the assets and affairs of CBZDS, on March 10, 2009, after the Monetary Board of Bangko Sentral ng Pilipinas on March 6, 2009, issued Resolution No. 1616 placing CBZDS under receivership of the Petitioner.

On August 3, 2009, Petitioner rendered its report to the Monetary Board of the Bangko Sentral ng Pilipinas stating that at its present financial condition, CBZDS cannot anymore resume business with safety to its depositors, creditors and the general public, thus the Monetary Board on August 6, 2009, issued Resolution No. 1123 directing the Petitioner to proceed with the liquidation of the CBZDS, thus this Petition.

WHEREFORE, this Court finding the Petition to be sufficient in form and substance hereby gives it due course. Set the initial hearing of this Petition on April 15, 2010 at 8:30 o’clock in the morning at RTC, Branch 19, Pagadian City. All those who may have claims on the assets of the Cooperative Bank of Zamboanga del Sur, are directed to file their respective claim with the Philippine Deposit Insurance Corporation, with office address at SSS Building Ayala Avenue corner V.A. Rufino Street, Makati City, within ninety (90) days from the date of publication of this Order.

Let a copy of this Order be published once in a newspaper of general circulation within the Philippines at the expense of the petitioner.

Likewise, let a copy of this Order be posted at a conspicuous place at the City Hall of Pagadian City, Bulwagan ng Katarungan, Pagadian City and Zamboanga del Sur Provincial Capitol, Pagadian City.

SO ORDERED.

GIVEN in Chambers this 16th day of December 2009 at Pagadian City, Philippines.

(SGD.) ROMEO T. DESCALLAR
Presiding Judge

PStar- February 19, 2010


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