Makati court junks petition vs BSP execs

February 29, 2012

THE Makati City regional trial court has dismissed the petition of Banco Filipino Savings and Mortgage Bank to hold officials of the Bangko Sentral ng Pilipinas in indirect contempt for their alleged failure to comply with a Court of Appeals order requiring them to extend aid to the thrift bank.

RTC Branch 143 Judge Rommel Baybay ruled that Banco Filipino committed forum shopping when it filed a separate petition for indirect contempt before RTC Branch 66 of the Makati court.
Cleared of contempt charges were BSP Gov. Amando Tetangco, Deputy Gov. Nestor Espenilla Jr., and Deputy Gov. and General Counsel Juan de Zuñiga Jr.

“With the commencement of the two indirect contempt proceedings; one before Branch 66 and the verified petition in this Court; arising from the same facts, transactions and issues, the Petitioner is clearly guilty of violating the rule against Forum Shopping,” Baybay said in a February 10 order.

Banco Filipino filed its petition for indirect contempt against the BSP officials before RTC 143 on March 11, 2011, four months after Judge Joselito Villarosa of RTC Branch 66 issued a preliminary mandatory and preventive injunction on Nov. 18, 2010.

In the injunction, Villarosa directed the BSP and the Monetary Board to immediately implement Banco Filipino’s business plan by releasing its P25 billion financial assistance package and other regulatory reliefs without delay.

In questioning the petition for contempt, John Balismono of the Villaraza Cruz Marcelo and Angangco law firm, counsel for Tetangco and Zuñiga, argued that RTC Branch 66’s Nov. 18, 2010 ruling was already nullified by the appellate court’s 13th Special Division last October for lack of jurisdiction and grave abuse of discretion.

(Published in the Manila Standard Today newspaper on /2012/february/29.)

Source: http://www.manilastandardtoday.com/insideNation_mstd.htm?f=//2012/february/29/nation3.isx&n=nation&d=/2012/february/29

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