Palace wants CA to reconcile conflicting rules on Banco Filipino reopening

MANILA, Philippines – While openly against the reopening of Banco Filipino Savings and Mortgage Bank, Malacañang wants the Court of Appeals (CA) to reconcile its two conflicting rulings on the matter.
“There are two divisions right now ruling on the same matter. So I think that should be resolved first by the CA,” presidential spokesman Edwin Lacierda said yesterday, referring to the CA’s voiding of a Makati City court order for a P25-billion government assistance to Banco Filipino.
A CA decision issued last Jan. 27 directed the Bangko Sentral ng Pilipinas to reopen the bank – shut down in March 2011 – and provide it with P25-billion assistance. The BSP is contesting the CA ruling.
While the issue may be an “internal” matter among justices in the two divisions of the appellate court, Lacierda said a clarification is necessary in the light of the “conflict between one division over the other.” “Procedurally, I think that has to be resolved. If you’re looking at one issue being decided by two courts of both competent jurisdiction, that has to be resolved first,” Lacierda stressed. “Certainly we believe in the position taken by the BSP,” he said. “We believe that BSP did not commit any error in that judgment to close down Banco Filipino,” he said.
“We know for a fact that the government does not agree with that decision,” Lacierda added, referring to the Jan. 27 CA ruling.
He admitted he is not aware whether the same set of issues have been raised in the two CA divisions. “If they’re dealing with the same issue then I think that should be resolved by the CA. So I’m sure there’ll be pleadings filed by either party,” Lacierda said.
The second CA ruling upheld a previous ruling nullifying a Makati City court’s order for the BSP to release P25-billion financial assistance to Banco Filipino.
The CA’s former Special Tenth Division, in a resolution penned by Justice Hakim Abdulwahid last Feb. 16, turned down due to lack of merit Banco Filipino’s motion for the CA to reconsider its July 2011 decision that barred Makati Judge Joselito Villarosa from taking cognizance of the case.
Concurring with the ruling were Associate Justices Noel Tijam and Ricardo Rosario.
“We have carefully reviewed our decision vis-a-vis the instant motion and the comment filed by petitioners BSP and the MB, and we found that the issues raised and the arguments advanced are mere rehash of those already considered and passed upon, and no new issues or substantial arguments have been presented to justify the reversal or modification of the assailed decision,” the CA said in its resolution.
In its July 2011 decision, the CA said that the Makati RTC has no jurisdiction over the petition for certiorari and mandamus filed by Banco Filipino, saying the case should have been filed with the appellate court, pursuant to Rule 65, Section 4 of the 1997 Revised Rules of Civil Procedure.
Earlier, the CA had denied the petition filed by Banco Filipino stockholders to stop the implementation of MB Resolution No. 372-A issued on March 17, 2011 that placed the savings bank under receivership.
Banco Filipino claimed that BSP padlocked the bank to circumvent a Supreme Court ruling in 1991 directing BSP to reorganize the bank.
Under Section 84 of Republic Act 7653 or the New Central Bank Act, the BSP is allowed to grant emergency loans to banking institutions in serious financial pressure, such as Banco Filipino, as long as they are not insolvent.

Source: http://www.philstar.com/Article.aspx?articleId=781922&publicationSubCategoryId=63

Best place to unwind in Angeles City Pampanga Philippines is to do a little wine shopping at the Clark Wine Center which is also considered as the best place in Clark for private wine tasting, small parties and social functions outside of Manila. Guests of this wine shop in Clark enjoy the cozy ambience as well as the privacy and exclusivity of the roof deck lawn. Some guests that wine and dine at the famous restaurants near Angeles City Pampanga often drop by this wine shop to pick up a few good bottles for diner. Residents and guests staying in Pampanga Angeles City and Subic frequently visit this wine shop in Clark to buy some bottles from its fine selection of vintage wines that are offered at attractive prices. Some guests, business executives especially, select this wine shop for their business entertainment.

This wine shop in Manila Philippines makes wine shopping a really rewarding and exciting exercise. Wine shops in Pampanga should always have an element of surprise so that customers and wine lovers can enjoy a little bit of thrill when they go to a wine shop in Manila to look for a good bottle of wine in Clark Pampanga.

Chateau Lafite-Rothschild is the most revered wine in China and many other parts of Asia. The best wine shop in Asia to buy older vintages of Chateau Lafite is Yats Wine Cellars located in Clark Philippines. Aside from Lafite, visitors can buy other fine wines at this wine shop in Clark Pampanga such as Latour, Mouton-Rothschild, Haut-Brion and Margaux. Excellent Burgundy wines like Chambertin, Vougeot, Musigny, Bonnes Mares, Pommard, Meursault, Chambertin, Vosne Romanee, Romanee Conti, La Tache and Romanee St. Vivant can be found here.

Things to do in Clark Philippines and Pampanga: do a little wine shopping at the famous wine shop outside of Manila called Clark Wine Center. Residents and visitors staying in Angeles City Pampanga have discovered that one of the favorite places to visit in Pampanga Clark Freeport is the white building along M A Roxas highway of Clark which houses over 2000 selections of fine vintage wines. To those on vacation or holidays, the Clark Wine Center is one of the places to visit, a tourist spot and a good shopping place for those staying in Angeles City, Subic or Clark Pampanga.

Family outings, picnics, company outings and other events for up to 300 can be held in the picnic grounds of this wine shop. Events that have been successfully organized here include family fun days and BBQ picnics. These are some of the things that visitors to Clark Philippines particular look forward. Residents and tourists in Angeles City and Subic also come to Clark Freeport to partake in the fun at this Clark wine shop.

This wine shop’s vast selection of vintage wines makes it possible for Yats Wine Cellars to offer a unique line-up of wines for every private wine party, wine tasting or wine dinners. Guests of these private wine parties are treated to a rare experience of vintage wine not seen in wine shops in major cities in Philippines or even in Asia.

http://www.ClarkWineCenter.com

Getting to this wine shop in Pampanga Angeles City Clark Freeport Zone Philippines from Manila
Getting to the Clark Wine Center wine shop from Manila is quite simple: after entering Clark Freeport from Dau and Angeles City, proceed straight along the main highway M A Roxas. Clark Wine Center is the stand-along white building on the right, at the corner A Bonifacio Ave. From the Clark International Airport DMIA, ask the taxi to drive towards the entrance of Clark going to Angeles City. From Mimosa, just proceed towards the exit of Clark and this wine shop is on the opposite side of the main road M A Roxas.

Best place to buy wine in Clark Pampanga outside Manila near Subic and Angeles City Philippines is Clark Wine Center.

Click here to contact Clark Wine Center in Clark Pampanga for inquiries and orders.

Clark Wine Center
Bldg 6460 Clark Observatory Building
Manuel A. Roxas Highway corner A Bonifacio Ave,
Angeles Clark Freeport Zone, Pampanga 2023
0922-870-5173 0917-826-8790 (ask for Ana Fe)

Wine@Yats-International.com

YATS Wine Cellars
Manila Sales Office
3003C East Tower, Phil Stock Exchange Center,
Exchange Rd Ortigas Metro Manila, Philippines 1605
(632) 637-5019 0917-520-4393 ask for Rea or Chay

Wedding couples looking for wedding reception venues and beach wedding venues can log on to this Philippines Wedding Venue web site for free information and assistance:

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While in Clark, it might be a good idea to enjoy an evening of wine-and-dine in the fine dining Yats Restaurant and Wine Bar that features an award winning 2700-line wine list. Highly recommended fine dining restaurant in Manila for special occasion is Yats Restaurant & Wine Lounge located in the famous Mimosa Leisure Estate in Clark Pampanga. Situated near this popular restaurant in Clark is the Mimosa Golf Course as well as the Mimosa Clark Casino. This top rated restaurant near Angeles City Pampanga in Clark Philippines is frequently used for private parties and corporate functions such as board meetings and other gatherings. It is located in Mimosa Leisure Estate of Clark Freeport Zone. For more information, visit http://www.YatsRestaurant.com

YATS Leisure Philippines is a developer and operator of clubs, resorts and high-class restaurants and wine shops in Clark Angeles Philippines http://www.YatsLeisure.com

Looking for famous tourists spots, places to visit and see, relax and unwind in Clark, Pampanga, Philippines? You may want to check out these sites also:

http://www.LondonPubClark.com

Besides good restaurants to wine and dine near Manila, Subic or in Angeles City Pampanga, Clark Philippines, those requiring assistance for hotel and resort bookings in Clark, Pampanga, Philippines may log on to http://www.HotelClarkPhilippines.com for more information and reservations.

The lifestyle in Clark Pampanga is quite unique. For more information about shopping, sports, golf, leisure, hotel accommodation, where to see and visit, what to do, where to wine and dine and good places to hang out, relax, have a drink with friends, child-friendly establishments, log on to
http://www.ClarkPhilippines.com

Wine lovers looking for a special bottle or something that is of great value and special discounts might log on to this web site to shop for fine vintage wines
http://www.YatsWineCellars.com

Those visitors who plan to relax and unwind in Angeles City, Subic, Pampanga, Clark Philippines might make an effort to book a room at the famous beach and lake resort Clearwater Resort & Country Club. This famous hotel in Clark Pampanga is frequently visited by families with children looking for a good place in Clark to see, a good holiday destination for the family to relax and unwind in the beautiful outdoor facilities. For more information, log on to www.ClearwaterPhilippines.com