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What is Lipana v. DBP: Insolvency and Creditor Rights about?

Petitioners filed a collection suit against the respondent Development Bank of Rizal after some of their time deposit certificates matured but were not paid out. The trial court ruled in favor of the petitioners. However, the Monetary Board then placed the respondent bank under receivership. The issue is whether the trial court could legally stay execution of the judgment that had become final. The Supreme Court ruled that staying the execution was warranted since placing the bank under receivership meant t

Author

ariel_080503

Language

EN