Republic of the Philippines
REGIONAL TRIAL COURT
5^th Judicial Region
BRANCH 21
Naga City

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ORDER

At today’s initial hearing, Atty. Jesus Fernando Carpio made a special appearance for petitioner Philippine Deposit Insurance Corporation (PDIC). On the other hand, Attorneys Oliver Olaybal and Manuel Teoxon appeared for opposition Fidel L. Cu. Likewise present were the counsels of claimants Banco de Oro Unibank, Inc. and the fourteen (14) former employees of G7 Bank in the persons of Attorneys Angelo Barcelona and Emilia Queng-Bueza. For claimant Small Business Guarantee & Finance Corporation, a certain Maria Edena Diez appeared. On the part of claimant Rural Bank of Milaor, Inc., nobody appeared.

In the course of the hearing, Atty. Carpio marked the following documents to prove the jurisdictional requirements of the petition:

Exhibits

“A” - Petition;
“B” - Monetary Board Resolution No. 961;
“C” - Receivership Report dated August 14, 2009;
“D” - Monetary Board Resolution No. 1256;
“E” - The Master Receivership/Liquidation Plan for Closed Banks;
“F” - Certificate of Posting dated January 5, 2010;
“G” - Affidavit of Publication dated December 22, 2009;
“H” - December 7-13, 2009 issue of Vox Bicol;
“H-” - The Order as appearing on page 7 of the said I” publication;
“I” - Order of this Court dated November 24, 2009;
“I-1” - Registry Return Receipt addressed to the Solicitor General;
“I-2” - Registry Return Receipt addressed to the Prosecutor of Naga City;
“I-3” - Registry Return Receipt addressed to the Office of the Clerk of Court, RTC, Naga City;
“I-4” - Registry Return Receipt addressed to Sheriff IV, Edgar Hufancia;
“J” - Entry of appearance of the Office of Solicitor General.

After the markings of the said documents, Atty. Olaybal commented that the publication requirement of this petition has not yet been fully complied with, considering that the Order of this Court dated November 24, 2009 was published only in a newspaper of general circulation in the Province of Camarines Sur. Atty. Olaybal argued that since the petition covers the branches of G7 Bank in Pasig City and in the Province of Albay, there is a need to re-publish the said Order, this time, before a newspaper of national circulation so that other affected creditors thereat will be effectively notified of this petition.

Finding the observation of Atty. Olaybal to be well-taken, the court hereby resolves that the Order dated November 24, 2009 should be amended in that the same should be re-published preferably in a newspaper of national circulation to cover the branches of G7 Bank located in Pasig City and in the Province of Albay.

In the meanwhile, let this petition be set for the continuation of the initial hearing on June 28, 2010 at 8:30 in the morning.

This Order should likewise be published once in the same newspaper at the expense of the petitioner.

SO ORDERED.

Given in open Court this 26th day of March 2010 at Naga City, Philippines.

PStar- April 29, 2010