Rules on Liquidation of Closed Banks
The OCA Circular No. 135-2021, issued on November 10, 2021, addresses the rules governing the liquidation of closed banks, specifically for judges in Special Commercial Courts and those handling commercial cases. It references the En Banc Resolution A.M. No. 19-12-02-SC, which outlines these rules and took effect on April 16, 2020. This circular supersedes any previous directives from the Office of the Court Administrator that conflict with the new regulations. Compliance with the updated rules is mandatory for all concerned parties.
November 10, 2021
OCA CIRCULAR NO. 135-2021
| TO | : | All Judges of the Regional Trial Courts Designated as Special Commercial Courts and Courts Hearing Commercial Cases |
| SUBJECT | : | Rules on Liquidation of Closed Banks |
For the information, guidance and strict compliance of all concerned, appended herein as Annex "A" is the approved En Banc Resolution dated 18 February 2020 in A.M. No. 19-12-02-SC(Rules on Liquidation of Closed Banks) which took effect on 16 April 2020.
Any prior circular from the Office of the Court Administrator on this matter which is contrary to the foregoing is hereby superseded.
(SGD.) JOSE MIDAS P. MARQUEZCourt Administrator
ANNEX A
A.M. No. 19-12-02-SC