About this document
EIB Liquidation: Supreme Court Ruling by Francis Coronel Jr. is a document available to read on EtoBox.
The Supreme Court ruled that the Monetary Board is not required to make an independent determination that a bank can no longer be rehabilitated before ordering its liquidation. The Monetary Board can rely on the determination of the Philippine Deposit Insurance Corporation (PDIC), which acts as receiver of banks. The PDIC had determined Export and Industry Bank could not be rehabilitated after two failed bidding processes. As such, the Monetary Board properly issued a resolution directing the PDIC to procee
- Author
- Francis Coronel Jr.
- Language
- EN