Republic of the Philippines
Regional Trial Court of Misamis Oriental
10th Judicial Region
BRANCH 18
Cagayan de Oro City

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ORDER

Petition, Philippine Deposit Insurance Corporation (PDIC for brevity), filed the instant Petition pursuant to Section 30 of the Republic Act No. 7653, otherwise known as The New Central Bank Act”, alleging that it is a government instrumentality created under Republic Act No. 3591, as amended, with principal address at SSS Building, Ayala Avenue corner V.A. Rufino Street, Makati City; that Philippine Farmer’s Bank, Inc. (PFBI for brevity), a rural bank with principal place of business at Canoy Building, J.R. Borja-Velez Streets, was placed under the receivership of the petitioner and prohibited from doing business in the Philippines, pursuant to the Monetary Board Resolution No. 1313 dated September 17, 2009 of the Bangko Sentral ng Pilipinas (BSP for brevity); that petitioner took over the assets and affairs of the PFBI on September 18, 2009; that PFBI can no longer resume business with safety to its depositors, creditors and the general public; that petitioner was designated as liquidator of PFBI and directed to proceed with the liquidation of PFBI pursuant to Resolution No. 521 of the Monetary Board; that petitioner submitted a copy of the Master Receivership/Liquidation Plan adopted and approved by its Board of Directors per Resolution No. 2007-12-207 dated December 20, 2007 for general application in the liquidation of all closed banks.

Finding the instant Petition to be sufficient in form and substance, let the initial hearing of this case be set on August 16, 2010 at 8:30 in the morning before this Court.

Petitioner PDIC is directed, upon receipt of this Order, to cause the publication thereof, at its expense, once in a newspaper of general circulation in the Philippines, and to post copies in the City Hall of Cagayan de Oro City, the Hall of Justice at Cagayan de Oro City and the Provincial Capitol of Misamis Oriental.

Any person whose interest may be adversely affected, may file an opposition to the petition to this Court before the scheduled initial hearing. Otherwise, they shall be barred.

All persons having or claiming any interest against the assets of PFBI are directed to file their respective claim with petitioner PDIC within ninety (90 days) from the date of the publication of this Order.

SO ORDERED.

June 18, 2010, Cagayan de Oro City.