Scribd Logo
Upload

Welcome to Scribd!

  • 89 views

    TRB V CA

    Uploaded by

    Rica Aggabao
    This case involves a dispute over the assignment of Central Bank Certificates of Indebtedness (CBCI). The Supreme Court ruled: (1) CBCI are not negotiable instruments and cannot be transferred free of defects from prior parties; (2) The assignment of rights and title from Filriters to Philfinance, and then to TRB Bank, are invalid since Filriters and Philfinance are separate legal entities despite shared ownership; and (3) The detached assignment signed without Filriters board authorization is void per Central Bank rules.

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd

    TRB V CA

    Uploaded by

    Rica Aggabao
    89 views9 pages
    This case involves a dispute over the assignment of Central Bank Certificates of Indebtedness (CBCI). The Supreme Court ruled: (1) CBCI are not negotiable instruments and cannot be transferred free of defects from prior parties; (2) The assignment of rights and title from Filriters to Philfinance, and then to TRB Bank, are invalid since Filriters and Philfinance are separate legal entities despite shared ownership; and (3) The detached assignment signed without Filriters board authorization is void per Central Bank rules.

    Original Description:

    digest

    Original Title

    TRB v CA

    Copyright

    © © All Rights Reserved

    Available Formats

    PDF, TXT or read online from Scribd

    Did you find this document useful?

    Is this content inappropriate?

    This case involves a dispute over the assignment of Central Bank Certificates of Indebtedness (CBCI). The Supreme Court ruled: (1) CBCI are not negotiable instruments and cannot be transferred free of defects from prior parties; (2) The assignment of rights and title from Filriters to Philfinance, and then to TRB Bank, are invalid since Filriters and Philfinance are separate legal entities despite shared ownership; and (3) The detached assignment signed without Filriters board authorization is void per Central Bank rules.

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Download as pdf or txt
    89 views9 pages

    TRB V CA

    Uploaded by

    Rica Aggabao
    This case involves a dispute over the assignment of Central Bank Certificates of Indebtedness (CBCI). The Supreme Court ruled: (1) CBCI are not negotiable instruments and cannot be transferred free of defects from prior parties; (2) The assignment of rights and title from Filriters to Philfinance, and then to TRB Bank, are invalid since Filriters and Philfinance are separate legal entities despite shared ownership; and (3) The detached assignment signed without Filriters board authorization is void per Central Bank rules.

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Download as pdf or txt
    You are on page 1of 9

    G.R. No.

    93397 (1997)

    TRADERS ROYAL BANK VS. COURT OF APPEALS,


    FILRITERS GUARANTY ASSURANCE CORPORATION AND
    CENTRAL BANK OF THE PHILIPPINES
    AGGABAO, Rica B.
    2A
    FACTS

    Filriters executes Philfinance Philfinance fails TRB requests


    a Detached enters into a to pay TRB and Central Bank to
    Assignment to Repurchase executes a effect the
    Philfinance Agreement with Detached transfer
    TRB Assignment to
    assigned all rights CB refuses to do so
    sold, transferred, the latter
    and title to 7 Central upon the adverse
    and delivered CBCI assigned all rights
    Bank Certificates of claims of Filriters
    D891 with maturity and title in CBCI
    Indebtedness (CBCI)
    date of April 27, D891 to TRB
    1981
    FACTS

    TRB files in RTC TRB appeals in


    a special civil the CA
    action of CA affirms RTC
    Mandamus decision and adds
    against Central that CBCI is not a
    Bank
    negotiable
    declares ALL CBCIs
    instrument
    null and void, thus
    ineffectual
    ISSUES
    W/N CBCI D891 IS A W/N THE ASSIGNMENT OF
    NEGOTIABLE INSTRUMENT RIGHTS AND TITLE IS VALID
    thus making TRB's thus entitling TRB to a
    possession of CBCI D891 registration of a new
    free from defect of prior certificate under their name
    parties
    HELD
    CBCI D891 IS NOT A NEGOTIABLE INSTRUMENT

    THE ASSIGNMENT OF RIGHTS AND TITLE IS


    INVALID
    TRB: CBCI is a negotiable instrument,
    RATIO holder in due course so possession of the
    CBCI D891 IS NOT A same is free from defect of title from
    NEGOTIABLE prior parties
    INSTRUMENT
    NEGOTIABILITY DEFINITION SC:
    CBCI D891 indicates that the same is
    payable to FILRITERS GUARANTY
    ASSURANCE CORPORATION, and to no
    one else
    Freedom of negotiability is totally
    absent
    RATIO
    TRB: Assignment must be held valid as
    THE ASSIGNMENT OF
    petitioner was defrauded through
    RIGHTS AND TITLE IS
    corporate fiction
    INVALID
    PIERCING THE CORPORATE VEIL

    SC:
    Despite Filriters owning 90% of the
    shares in Philfinance, they are still
    considered two separate judicial
    personalities
    RATIO
    THE ASSIGNMENT OF The detached assignment of CBCI 891
    RIGHTS AND TITLE IS was signed by Alfredo Banaria, without
    INVALID
    authorization from the Board of Filriters
    CENTRAL BANK CIRCULAR NO. 769

    SC:
    CBCIs from the Filriter-Philfinance
    assignment is void and such was
    passed on to the Philfinance-TRB
    assignment.
    G.R. No.93397 (1997)

    TRADERS ROYAL BANK VS. COURT OF APPEALS,


    FILRITERS GUARANTY ASSURANCE CORPORATION AND
    CENTRAL BANK OF THE PHILIPPINES
    AGGABAO, Rica B.
    2A

    You might also like

    pFad - Phonifier reborn

    Pfad - The Proxy pFad of © 2024 Garber Painting. All rights reserved.

    Note: This service is not intended for secure transactions such as banking, social media, email, or purchasing. Use at your own risk. We assume no liability whatsoever for broken pages.


    Alternative Proxies:

    Alternative Proxy

    pFad Proxy

    pFad v3 Proxy

    pFad v4 Proxy