THE Court of Appeals (CA) stood path with its ruling on the legality of the closure of Banco Filipino Savings Mortgage Bank in 2011.
In a three-page resolution written by Associate Justice Noel Tijam, the CA’s Former Special Seventh Division found no reversible error in their November 23, 2012, amended decision which reversed its decision on January 27, 2012, ordering the Bangko Sentral ng Pilipinas (BSP) to reopen the bank.
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