University of Santo Tomas

Faculty of Civil Law

A.Y. 2020-2021

SPECIAL COMMERCIAL LAWS

Course Description: This covers the study of Letters of Credit, Trust Receipts, the New Central
Bank Act, General Banking Law, Secrecy of Bank Deposits, Anti-Money Laundering Law,
Financial Rehabilitation and Insolvency Law, Truth in Lending Act, Law on Extra-Judicial
Foreclosure of Real Estate Mortgage in relation to Banking Laws and Warehouse Receipts Law.

No. of units: 3

Grading System:

Class Standing 25%

Preliminary Examination 35%
Final Examination 40%
100%

I. LETTERS OF CREDIT

1. Definition and Nature of Letter of Credit

- A Financial devise to facilitate commercial transaction

• Bank of America, NT & SA v. Court of Appeals, G.R. No. 105395,

10 December 1993, (228 SCRA 357)

• Prudential Bank and Trust Company v. Intermediate Appellate Court,

G.R. No. 74886, 08 December 1992, (216 SCRA 257)

- Security arrangements but not accessory contracts

• Feati Bank & Trust Company v. Court of Appeals, G.R. No. 94209,
30 April 1991, (196 SCRA 576)

• Metropolitan Waterworks and Sewerage System v. Daway,

G.R. No. 160732, 21 June 2004, (432 SCRA 559)

- A composite of at least three distinct but intertwined relationships, each

relationship being concretized in a contract:

• Reliance Commodities, Inc. v. Daewoo Industrial Co., Ltd.,

G.R. No. L-100831, 17 December 1993, (228 SCRA 545)

- Not a negotiable instrument

• Lee v. Court of Appeals, G.R. No. 117913, 01 February 2002,

(375 SCRA 579)
 - Different from trust receipt

• Bank of Commerce v. Serrano, G.R. No. 151895, 16 February 2005,

(451 SCRA 484)

2. Laws governing letter of credit

- Applicability of usage and customs apply in commercial transactions in

the absence of any particular provision in the Code of Commerce

• Bank of the Philippine Islands v. De Reny Fabric Industries, Inc.,

G.R. No. L-24821, 16 October 1970, (35 SCRA 253)

3. Kinds of letter of credit

a. Commercial and stand by letter of credit

• Insular Bank of Asia & America v. Intermediate Appellate Court, G.R. 74834,
17 November 1988, (167 SCRA 450)

• Bank of America NT &SA v. Court of Appeals, G.R. No. 105395,

10 December 1993,(228 SCRA 357)

• Transfield Philippines, Inc. v. Luzon Hydro Corp., G.R. No. 146717,

22 November 2004, (443 SCRA 307)

b. Irrevocable and revocable letter of credit

• Philippine Virginia Tobacco Administration v. De Los Angeles,

G.R. No. L-27829, 19 August 1988, (164 SCRA 543)

c. Confirmed and unconfirmed letter of credit

• Feati Bank & Trust Company v. Court of Appeals, G.R. No. 94209,
30 April 1991, (196 SCRA 576)

4. Parties to a Letter of Credit

a. Rights and Obligations of Parties

a. Applicant

b. Issuing Bank

c. Beneficiary

• Reliance Commodities, Inc. v. Daewoo Industrial Co., Ltd., G.R. No. L-100831,
17 December 1993, (228 SCRA 545)

• Prudential Bank & Trust Company v. Intermediate Appellate Court,

G.R. No. 74886, 08 December 1992, (216 SCRA 257)

• Rodzssen Supply Company, Inc. v. Far East Bank and Trust Company,
G.R. No. 109087, 09 May 2001, (357 SCRA 618)
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 • Abad v. Court of Appeals, G.R. No. L-42735, 22 January 1990, (181 SCRA 191)

• Consolidated Bank & Trust Corporation v. Court of Appeals, G.R. No. 114286,
19 April 2001, (356 SCRA 671)

• Marphil Export v. Allied Banking Corporation, G.R. No. 187922,

21 September 2016, (806 SCRA 627)

d. Advising/Notifying Bank

e. Paying Bank

f. Confirming Bank

• Bank of America v. Court of Appeals, G.R. No. 105395,

10 December 1993, (228 SCRA 357)

• Feati Bank & Trust Company v. Court of Appeals,

G.R. No. 94209, 30 April 1991, (196 SCRA 576)

5. Basic Principles of Letter of Credit

a. Doctrine of Independence

i. In commercial letter of credit

• Bank of the Philippine Islands v. De Reny Fabric Industries, Inc.,

G.R. No. L-24821, 16 October 1970, (35 SCRA 253)

• Land Bank of the Philippines v. Monet’s Export and

Manufacturing Corp., G.R. No. 161865, 10 March 2005,
(453 SCRA 173)

• Philippine National Bank v. San Miguel Corporation,

G.R. No. 186063, 15 January 2014 (713 SCRA 586)

• The Hongkong Shanghai Banking Corporation v. National Steel

Corporation, G.R. No. 183486, 24 February 2016 (784 SCRA 659)

ii. In Standby letter of credit

• Insular Bank of Asia & America v. Intermediate Appellate Court,

G.R. No. 74834, 17 November 1988, (167 SCRA 450)

b. Fraud Exception Principle

• Transfield Philippines, Inc. v. Luzon Hydro Corp., G.R. No. 146717,

22 November 2004, (443 SCRA 307)

c. Doctrine of Strict Compliance

• Feati Bank & Trust Company v. Court of Appeals, G.R. No. 94209,
30 April 1991, (196 SCRA 576)
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II. TRUST RECEIPTS LAW

1. Definition/Concept of a Trust Receipt Transaction

a. A security transaction intended to aid in financing importers and

retail dealers who do not have sufficient funds or resources to
finance the importation or purchase of merchandise, and who may
not be able to acquire credit except through utilization, as
collateral of the merchandise imported or purchased.

• Lee v. Court of Appeals, G.R. No. 117913, 01 February 2002,

(375 SCRA 579)

b. The loan and security features of a trust receipt

• Vintola v. Insular Bank of Asia and America, G.R. No. 73271,

29 May 1987, (150 SCRA 578)

• Rosario Textile Mills Corporation v. Home Bankers Savings and

Trust Company, G.R. No. 137232, 29 June 2005, (462 SCRA 88)

c. The loan should be granted to finance acquisition of the goods

under trust receipt. If loan is granted when entrustee already has
ownership of the goods, transaction only a simple loan

• Colinares v. Court of Appeals, G.R. No. 90828,

05 September 2000, (339 SCRA 609)

• Consolidated Bank & Trust Corporation (Solidbank) v. Court

of Appeals, G.R. No. 114286, 19 April 2001, (356 SCRA 671)

d. The goods must be intended for sale or resale, otherwise, it is a

simple loan

• Ng v. People, G.R. No. 173905, 23 April 2010, (633 Phil 304)

• Land Bank of the Philippines v. Perez, G.R. No. 166884,

13 June 2012, (672 SCRA 117)

• Hur Tin Yang v. People, G.R. No. 195117, 14 August 2013,

(703 SCRA 606)

e. No trust receipt, notwithstanding the label, if goods offered as

security for a loan accommodation are goods sold to the debtor

• Spouses Dela Cruz v. Planter’s Products Inc., G.R. No. 158649,

18 February 2013, (691 SCRA 28)

f. Failure of the entrustee to remit sale proceeds or return the goods

in case of non-sale constitutes criminal liability

g. Crime against public order

• People v. Nitafan, G.R. No. 81559-60, 06 April 1992,

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 • Metropolitan Bank & Trust Company v. Tonda, G.R. No. 134436,
16 August 2000 (338 SCRA 254 )

2. Ownership of the Goods, Documents and Instruments under a Trust

Receipt

a. Entrustee is the owner of the goods

• Vintola v. Insular Bank of Asia and America, G.R. No. 73271,

29 May 1987, (150 SCRA 578)

• Rosario Textile Mills Corp. v. Home Bankers Savings and Trust

Company, G.R. No. 137232, 29 June 2005, (462 SCRA 88)

b. Entrustee cannot mortgage the goods under trust receipt

• Development Bank of the Philippines v. Prudential Bank,

G.R. No. 143772, 22 November 2005, (475 SCRA 623)

3. Rights of the Entruster

a. Validity of the Security Interest as Against the Creditors of the

Entrustee/Innocent Purchaser for Value

• Prudential Bank v. National Labor Relations Commission,

G.R. No. 112592, 19 December 1995, (251 SCRA 412)

4. Obligation and Liability of the Entrustee

a. No criminal liability in the following cases

i. entrustee already owns the goods when loan under TR

granted

• Colinares v. Court of Appeals, G.R. No. 90828,

05 September 2000, (339 SCRA 609)

• Consolidated Bank & Trust Corporation (Solidbank) v.

Court of Appeals, G.R. No. 114286, 19 April 2001,
(356 SCRA 671)

ii. goods not intended for sale or resale

• Ng v. People, G.R. No. 173905, 23 April 2010,

(633 Phil 304)

• Land Bank of the Philippines v. Perez, G.R. No. 166884,

13 June 2012, (672 SCRA 117)

• Hur Tin Yang v. People, G.R. No. 195117, 14 August 2013,

(703 SCRA 606)
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 iii. Non-delivery of the goods

• Ramos v. Court of Appeals, G.R. No. L-39922-25,

21 August 1987, (153 SCRA 276)

iv. Novation

• Ong v. Court of Appeals, G.R. No. L-58476,

02 September 1983, (124 SCRA 578)

• Pilipinas Bank v. Ong, G.R. No. 133176, 08 August 2002,

(387 SCRA 37)

5. Payment/Delivery of Proceeds of Sale or Disposition of Goods,

Documents or Instrument

6. Return of Goods, Documents or Instruments in Case of Non-Sale

• Vintola v. Insular Bank of Asia and America, G.R. No. 73271,

29 May 1987, (150 SCRA 578)

7. Liability for Loss of Goods, Documents or Instruments

• Rosario Textile Mills Corporation v. Home Bankers Savings and Trust

Company, G.R. No. 137232, 29 June 2005, (462 SCRA 88)

8. Penal Sanctions if Offender is a Corporation

a. Criminal Liability of directors, officers and agents

• Ong v. Court of Appeals, G.R. No. 119858, 29 April 2003,

(401 SCRA 649)

• Ching v. Secretary of Justice, G.R. No. 164317, 06 February 2006,

(481 SCRA 609)

b. Directors and officers of the corporation not civilly liable unless

they assume personal liability

• Tupaz IV v. Court of Appeals, G.R. 145578, 18 November 2005,

(475 SCRA 398)

• BDO Unibank, Inc., v. Choa, G.R. No. 237553, 10 July 2019,

(_SCRA_)

9. Remedies Available

a. Criminal and civil actions

• Vintola v. Insular Bank of Asia and America, G.R. No. 73271,

29 May 1987, (150 SCRA 578)
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 • Sarmiento Jr. v. Court of Appeals, G.R. No. 122502,
27 December 2002, (394 SCRA 315)

b. Entruster’s repossession of the goods under trust receipt not a bar

to foreclosure of mortgage of other collateral

• Philippine National Bank v. Pineda, G.R. No. L-46658,

13 May 1991, (197 SCRA 1)

c. Cancellation of trust and repossession of goods

• South City Homes, Inc. v. BA Finance Corporation,

G.R. No. 135462, 07 December 2001, (371 SCRA 603)

d. Entrustee liable for deficiency

• Landl & Company (Phil.) v. Metropolitan Bank & Trust Co.,

G.R. No. 159622, 30 July 2004, (435 SCRA 639)

III. WAREHOUSE RECEIPT’S LAW

• Estrada v. Court of Agrarian Relations, G.R. No. L-17481, L-17537, L-17559,

15 August 1961, (2 SCRA 986)

• Consolidated Terminals Inc. v. Artex Development Co. Inc., G.R. No. L-25748,
10 March 1975, (63 SCRA 46)

• Philippine National Bank v. Noah’s Ark Sugar Refinery, G.R. No. 107243,
01 September 1993, (226 SCRA 36)

• Philippine National Bank v. Se. Jr., G.R. No. 119231, 18 April 1996, (256 SCRA 380)

• Philippine National Bank v. Sayo, Jr., G.R. No. 129918, 09 July 1998 (292 SCRA 202)

IV. BANKING LAWS

A. The New Central Bank Act (R.A. No. 7653)

1. Responsibility and Primary Objective

• Perez v. Monetary Board, G.R. No. L-23307, 30 June 1967, (20 SCRA 592)

• Koruga v. Arcenas, Jr., G.R. No. 168332, 169053, 19 June 2009, (590 SCRA 49)

• Bangko Sentral ng Pilipinas v. Banco Filipino Savings and Mortgage Bank, G.R.
Nos. 178696, 192607, 30 July 2018, (_SCRA_)

2. Monetary Board - Powers and Functions

• Bangko Sentral ng Pilipinas Monetary Board v. Antonio-Valenzuela,

G.R. No. 184778, 02 October 2009, (602 SCRA 698)
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 • Bangko Sentral ng Pilipinas v. Legaspi, G.R. No. 205966, 02 March 2016,
(785 SCRA 466)

• Federal Express Corporation v. Antonino, G.R. No. 199455, 27 June 2018,

(868 SCRA 450)

3. How the BSP handles Banks in Distress

a. Conservatorship

• Central Bank of the Philippines v. Court of Appeals, G.R. No. L-45710,

03 October 1985, (139 SCRA 46)

• Central Bank of the Philippines v. Court of Appeals, G.R. No. 88353,

08 May 1992, (208 SCRA 652)

• First Philippine International Bank v. Court of Appeals, G.R. No. 115849,

24 January 1996, (252 SCRA 259)

b. Closure

• Spouses Lipana v. Development Bank of Rizal, G.R. No. L- 73884,

24 September 1987, (154 SCRA 257)

• Banco Filipino Savings and Mortgage Bank v. Monetary Board, Central

Bank of the Philippines, G.R. Nos. 70054, 68878, 77255-58,
11 December 1991, (204 SCRA 767)

• Central Bank of the Philippines v. Court of Appeals, G.R. No. 88353,

92943, 08 May 1992, (208 SCRA 652)

• Rural Bank of San Miguel Inc. v. Monetary Board, Central Bank of the
Philippines, G.R. No. 150886, 16 February 2007, (516 SCRA 154)

• Bangko Sentral ng Pilipinas Monetary Board v. Antonio-Valenzuela,

G.R. No. 184778, 02 October 2009, (602 SCRA 698)

• Spouses Poon v. Prime Savings Bank, G.R. No. 183794, 13 June 2016,
(793 SCRA 141)

c. Receivership

• Central Bank of the Philippines v. Court of Appeals, G.R. No. L-45710,

03 October 1985, (139 SCRA 46)

• Spouses Lipana v. Development Bank of Rizal, G.R. No. L- 73884,

24 September 1987, (154 SCRA 257)

• Abacus Real Estate Development Center, Inc. v. Manila Banking

Corporation, G.R. No. 162270, 06 April 2005, (455 SCRA 97)

• Vivas, v. Monetary Board of the Central Bank of the Philippines,

G.R. No. 191424, 07 August 2013, (703 SCRA 290)
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 • Spouses Chugani v. Philippine Deposit Insurance Corporation,
G.R. No. 230037, 19 March 2018 (859 SCRA 488)

• So v. Philippine Deposit Insurance Corporation, G.R. No. 230020,

19 March 2018, (859 SCRA 478)

• Banco Filipino Savings and Mortgage Bank v. Bangko Sentral ng Pilipinas,

G.R. No. 200678, 04 June 2018, (864 SCRA 32)

d. Liquidation

• Manalo v. Court of Appeals, G.R. No. 141297, 08 October 2001,

(366 SCRA 752)

• Rural Bank of Sta. Catalina Inc. v. Land Bank of the Philippines,

G.R. No. 148019, 26 July 2004, (435 SCRA 183)

• Miranda v. Philippine Deposit Insurance Corporation, G.R. No. 169334,

08 September 2006, (501 SCRA 288)

• In Re : Petition for Assistance in the Liquidation in the Rural Bank of

Bokod Benguet v. Bureau of Internal Revenue, G.R. No. 158261,
18 December 2006, (511 SCRA 123)

• Cu v. Small Business Guarantee and Finance Corporation,

G.R. No. 211222, 07 August 2017, (834 SCRA 515)

• Apex Bancrights Holdings, Inc. et. al. v. Bangko Sentral ng Pilipinas, G.R.
No. 214866, 2 October 2017, (841 SCRA 436)

• Yuseco v. PDIC, as statutory liquidator of Unitrust Bank,

G.R. No. 217890, 28 September 2016

B. Law on Secrecy of Bank Deposits (R.A. No. 1405, as amended)

1. Purpose

• BSB Group, Inc. v. Go, G.R. No. 168644, 16 February 2010, (612 SCRA 596)

2. Prohibited Acts

• Oñate v. Abrogar, G.R. Nos. 107303, 107491, 23 February 1995, (230 SCRA 181)

• Philippine Commercial International Bank v. Court of Appeals,

G.R. No. 97785, 29 March 1996, (255 SCRA 299)

• Union Bank of the Philippines v. Court of Appeals, G.R. No. 134699,

23 December 1999, (321 SCRA 563)

3. Deposits Covered

• Intengan v. Court of Appeals, G.R. No. 128996, 15 February 2002,

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(377 SCRA 63)

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 • Ejercito v. Sandiganbayan (Special Division), G.R. Nos. 157294-95,
30 November 2006, (509 SCRA 190)

• Sibayan v. Alda, G.R. No. 233395, 17 January 2018, (852 SCRA 102)

4. Exceptions

• Mellon Bank, N.A. v. Magsino, G.R. No. 71479, 18 October 1990,

(190 SCRA 633)

• Philippine Commercial & Industrial Bank v. Court of Appeals,

G.R. No. 84526, 28 January 1991, (193 SCRA 452)

• Van Twest v. Court of Appeals, G.R. No. 106253, 10 February 1994

(230 SCRA 42)

• Marquez v. Desierto, G.R. No. 135882, 27 June 2001, (359 SCRA 772); Office
of the Ombudsman v. Ibay, G. R. No. 137538, 03 September 2001,
(364 SCRA 281)

• China Bank Corporation v. Court of Appeals, G.R. No. 140687,

18 December 2006, (511 SCRA 110)

• BSB Group, Inc. v. Go, G.R. No. 168644, 16 February 2010, (612 SCRA 596)

• Rizal Commercial Banking Corporation v. Hi-Tri Development Corporation,

G.R. No. 192413, 13 June 2012, (672 SCRA 514)

• Doña Adela Export International Inc., v. Trade and Investment

Development Corporation, G.R. No. 201931, 11 February 2015, (750 SCRA 429)

5. Garnishment of Deposits, Including Foreign Deposits

• Philippine Commercial & Industrial Bank v. Court of Appeals,

G.R. No. 84526, 28 January 1991, (193 SCRA 452)

• Salvacion v. Central Bank of the Philippines, G.R. No. 94723, 21 August 1997,
(278 SCRA 27)

• Government Service Insurance System v. 15th Division of the Court of

Appeals, G.R. No. 189206, 8 June 2011, (651 SCRA 661)

C. General Banking Law of 2000 (R.A. No. 8791)

1. Definition and Classification of Banks

• Republic v. Security Credit and Acceptance Corporation, G.R. No. L-20583,

23 January 1967, (19 SCRA 58)
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 2. Distinction of Banks from Quasi-Banks and Trust Entities

• Bañas v. Asia Pacific Finance Corporation, G.R. No. 128703,

18 October 2000, (343 SCRA 527)

• First Planters Pawnshop, Inc. v. Commissioner of Internal Revenue, G.R. No. 174134,
30 July 2008 (560 SCRA 606)

3. Bank Powers and Liabilities

a. Corporate Powers

• Register of Deeds of Manila v. China Banking Corporation,

G.R. No. L-11964, 28 April 1962, (04 SCRA 1146)

• Banco de Oro-EPCI, Inc. v. JAPRL Development Corporation,

G.R. No. 179901, 14 April 2008, (551 SCRA 342)

b. Banking and Incidental Powers

• Spouses Panlilio v. Citibank, N.A., G.R. No. 156335, 28 November 2007,

(539 SCRA 69)

• White Marketing Development Corporation v. Grandwood Furniture &

Woodwork, Inc. G.R. No. 222407, 23 November 2016 (810 SCRA 409)

4. Diligence Required of Banks—Relevant Jurisprudence

• Simex International (Manila) Inc. v. Court of Appeals, G.R. No. 88013,

19 March 1990, (183 SCRA 360)

• Sia v. Court of Appeals, G.R. No. 102970, 13 May 1993, (222 SCRA 24)

• Reyes v. Court of Appeals, G.R. No. 118492, 15 August 2001, (363 SCRA 51)

• Consolidated Bank and Trust Corporation v. Court of Appeals,

G.R. No. 138569, 11 September 2003, (410 SCRA 562)

• Central Bank of the Philippines v. Citytrust Banking Corporation,

G.R. No. 141835, 04 February 2009, (578 SCRA 27)

• Bank of America, NT and SA v. Associated Citizens Bank, G.R. No. 141018,

21 May 2009 (588 SCRA 51)

• Philippine National Bank v. Raymundo, G.R. No. 208672, 07 December 2016,

(813 SCRA 326)

• Spouses Carbonell v. Metropolitan Bank and Trust Company,

G.R. No. 178467, 26 April 2017, (845 SCRA 1)

• Citystate Savings Bank v. Tobias, G.R. No. 227990, 07 March 2018,

(858 SCRA 63)
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 • Ong Bun v. Bank of the Philippine Islands, G.R. No. 212362, 14 March 2018,
(589 SCRA 80)

• Bank of the Philippine Islands v. Spouses. Quiaoit G.R. No. 199562,

16 January 2019, (_ SCRA _)

• Allied Banking Corporation v. Sia, G.R. No. 195341, 28 August 2019,

(_ SCRA _)

• Philippine National Bank v. Giron-Roque, G.R. No. 240311, 18 September 2019

(_ SCRA _)

5. Nature of Bank Funds and Bank Deposits

• Consolidated Bank and Trust Corporation v. Court of Appeals,

G.R. No. 138569, 11 September 2003, (410 SCRA 562)

• Suan v. Gonzales, A.C. No. 6377, 12 March 2007, (518 SCRA 82)

6. Stipulation on Interests

• Fidelity Savings and Mortgage Bank v. Cenzon, G.R. No. 46208,

05 April 1990, (184 SCRA 141)

• Macalinao v. Bank of the Philippine Islands, G.R. No. 175490,

17 September 2009, (600 SCRA 67)

• Advocates for Truth in Lending Inc. v. Bangko Sentral ng Pilipinas, Monetary

Board, G.R. No. 192986, 15 January 2013, (688 SCRA 530)

• Villa Crista Monte Realty & Development Corporation v. Equitable PCI

Bank, G.R. No. 208336, 21 November 2018 (_ SCRA_)

• Rey v. Anson, G.R. No. 211206, 07 November 2018 (_SCRA_)

7. Grant of Loans and Security Requirements

a. Single Borrower’s Limit

b. Restrictions on Bank Exposure to DOSRI (Directors, Officers,

Stockholders and their Related Interests

• Go v. Bangko Sentral ng Pilipinas, G.R. No. 178429, 23 October 2009,

(604 SCRA 322)

• Soriano v. People, G.R. No. 162336, 01 February 2010 (611 SCRA 191)

• Republic v. Sandiganbayan, G.R. Nos. 166859, 169203, 180702,

12 April 2011 (648 SCRA 47)
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 D. Anti-Money Laundering Act (R.A. No. 9160, as amended)

a. Unlawful Activities or Predicate Crimes

• Republic v. Glasgow Credit and Collection Services, Inc.,

G.R. No. 170281, 18 January 2008 (542 SCRA 95)

• Republic v. Eugenio, Jr., G.R. No. 174629, 14 February 2008,

(545 SCRA 384)

• Republic v. Bolante, G.R. No. 186717, 17 April 2017, (822 SCRA 526)

• Philippine Deposit Insurance Corporation v. Gidwani, G.R. No. 234616,

20 June 2018, (867 SCRA 581)

b. Freezing of Monetary Instrument or Property

• Republic v. Cabrini Green & Ross, Inc., G.R. No. 154522, 05 May 2006,
(489 SCRA 644)

• Ligot v. Republic, G.R. No. 176944, 06 March 2013, (692 SCRA 509)

• Subido Pagente Certeza Mendoza and Binay Law Offices v. Court of

Appeals, G.R. No. 216914, 06 December 2016, (813 SCRA 1)

V. PHILIPPINE DEPOSIT INSURANCE SYSTEM, R.A. NO. 3591, AS AMENDED,

INCLUDING R.A. NO. 10846

1. Maximum Deposit Insurance Coverage

• Philippine Deposit Insurance Corporation v. Commission on Audit,

G.R. No. 171548, 22 February 2008, (540 Phil 79)

• Philippine Deposit Insurance Corporation v. Philippine Countryside Rural Bank

Inc., G.R. No. 176438, 24 January 2011, (640 SCRA 322)

• Philippine Deposit Insurance Corporation v. Court of Appeals,

G.R. No. 118917, 22 December 1997, (283 SCRA 462)

• Philippine Deposit Insurance Corporation v. Court of Appeals,

G.R. No. 126911, 30 April 2003 (402 SCRA 194)

2. Meaning of Insured Deposit

3. Splitting of Deposits
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VI. TRUTH IN LENDING ACT

• New Sampaguita Builders Construction Inc. (NSBCI) v. Philippine National Bank,

G.R. No. 148753, 30 July 2004, (435 SCRA 565)

• The Consolidated Bank and Trust Corporation (Solidbank) v. Court of Appeals,

G.R. No. 91494, 14 July 1995, (246 SCRA 193)

• Development Bank of the Philippines v. Arcilla, Jr., G.R. No. 161397, 30 June 2005,
(462 SCRA 599)

• United Coconut Planters Bank v. Beluso G.R. No. 159912, 17 August 2007,
(530 SCRA 567)

• Spouses Silos v. Philippine National Bank, G.R. No. 181045, 02 July 2014,
(728 SCRA 617)

VII. FINANCIAL REHABILITATION AND INSOLVENCY ACT OF 2010 (R.A. NO. 10142),
INCLUDING FR RULES (A.M. NO. 12-12-11-SC AND FLSP RULES (A.M. NO. 15-04-
06-SC)

1. Basic Concepts

a. Rehabilitation

b. Insolvent

c. Liquidation

d. Suspension of Payments

2. Modes of Rehabilitation

a. Court-supervised Rehabilitation

i. Voluntary v. Involuntary Proceedings

ii. Commencement Order (including Stay Order)

iii. Rehabilitation Receiver and Management Committee

iv. Determination of Claims

v. Rehabilitation Plan

- Concept of Feasibility

- Material Financial Commitments

vi. Liquidation Analysis

vii. Creditor Approval and Confirmation

viii. Failure of Rehabilitation

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 b. Pre-negotiated Rehabilitation

1. How Initiated

2. Period and Effect of Approval

c. Out-of-Court or Informal Restructuring Agreement or Rehabilitation Plan

1. Minimum Requirements

2. Standstill Period

3. Cram Down Effect

3. Liquidation

a. Voluntary Liquidation v. Involuntary Liquidation v. Conversion

b. Procedure (Liquidation Order and its effects)

c. Determination of Claims

4. Suspension of Payments; Suspension of Payment Order

5. Remedies

a. Motion for Reconsideration

b. Petition for Certiorari

VIII. ELECTRONIC COMMERCE ACT (R.A. NO. 8792)

1. Legal Recognition of Electronic Data Messages, Documents and Signatures

2. Presumption relating to Electronic Signatures

3. Admissibility and evidential Weight of Electronic Data Message or Electronic

Document

4. Obligation of Confidentiality

IX. DATA PRIVACY ACT (R.A. NO. 10173)

1. Personal Information and Sensitive Personal Information

2. Scope

3. Processing of Personal Information

4. Rights of Data Subject

X. PHILIPPINE COMPETITION ACT (R.A. NO. 10667)

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UST- Faculty of Civil Law

SPECIAL COMMERCIAL LAWS
A.Y. 2020-2021