Philippine National Bank… · G.R. 108052

Petitioner: Philippine National Bank
Respondent: The Court of Appeals
Citation: G.R. No. 108052
Court: Supreme Court
Division: Third Division
Ponente: Panganiban, J.
Decided: July 24, 1996

Summary

Supreme Court case involving Philippine National Bank's interception of international remittances totaling US$2,627.11 intended for Ramon Lapez's Citibank account, which PNB sought to apply against alleged overpayments from 1980-1981. The Court rejected PNB's legal compensation theory, finding that as correspondent bank, PNB was merely an implied trustee obligated to transmit funds, not a principal creditor-debtor with Lapez. The Court emphasized that such interception would undermine international banking confidence and characterized PNB's post-judgment compensation argument as an improper attempt to validate its original misconduct. The decision affirmed PNB's liability to return the intercepted funds with legal interest, warning against abuse of the judicial system for collection purposes.

Statutes applied

Civil Code, Art. 1279

Related cases

Other Philippine cases on the same provisions and issues.

Mondragon Personal Sales v. Victoriano S. Sola, Jr. G.R. No. 174882
Thunga Chui v. Que Bentec G.R. No. 929
Development Bank of the Philippines v. Pedro Salazar G.R. No. 228703
Rolando C. de La Paz v. L & J Development Company G.R. No. 183360
Citibank v. Modesta R. Sabeniano G.R. No. 156132
Fortunata Solis v. Maxima Barroso G.R. No. 27939
Francisco Gutierrez Repide v. Ivar O. Afzelius G.R. No. 13438
Agaton Araneta v. Braulio Montelibano G.R. No. 4177

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By the Intellegal Editorial Board · July 24, 1996

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