CA overturns RTC ruling on Banco Filipino | Inquirer News
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The appellate court’s special 13th Division granted the central bank’s petition that questioned the order of Judge Joselito Villarosa of Makati Regional Trial Court Branch 66 for the BSP to approve Banco Filipino’s business plan and provide it with P25 billion in assistance.
The appellate court also ruled that the judge committed grave abuse of discretion when he issued a temporary restraining order (TRO) stopping the BSP from performing it regulatory functions over the bank.
“For lack of jurisdiction, the Regional Trial Court, Branch 66, Makati City, is ordered to stop and desist from continuing with the proceedings of Civil Case No. 10-1042, other than to dismiss the said case,” the appellate court said in a ruling on Oct. 3.
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