8/19/2019 9.) Pinca - Insular Savings v. CA
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Author: Pinca
Insular Savings v. CA (2005)
Petition: Petition for review on certiorari of decision of
CAPetitioner: Insular Savings BankRespondents: Court of Appeals,
Presiding Judge Amin of RC Branch !"#, and$%BC!
Ponencia: &arcia
DOCRI!"S:#. Present rule under Sec. #2 o$ Rule 5%: &e court
s&all order t&e
disc&arge o$ t&e attac&'ent i$ t&e 'ovant 'aes a
cas& depositor $iles a counter*ond+ in an a'ount e,ual to
t&at $i-ed * t&ecourt in t&e order o$ attac&'ent/
e-clusive o$ costs.
Old rule: t&e value o$ t&e propert attac&ed
s&all *e t&e
de$ining 'easure in t&e co'putation o$ t&e
disc&argingcounterattac&'ent *ond.
2. A part o$ a possi*le udg'ent t&at &as verita*l
*eenpree'ptivel satis$ied or secured need not *e covered *
acounter*ond.
1ACS:!' Sometime in !((!, respondent $%BC instituted an
Ar)itration
case against petitioner Insular )efore the Ar)itration Committee
ofthe PC*C'+
+' he dispute )etween the parties involved three unfunded
checkswith a total value of P25/200/000.00. he checks were
drawnagainst $%BC and were presented ) petitioner for clearing'
"' -hen $%BC returned the checks )eond the reglementarperiod
.which happened to )e after Insular/s account with PC*Cwas credited
with the amount of P+#, +00, 000'001, Insular refusedto refund the
said mone'
2' Januar !3, !((+: $%BC filed a case in RC 4akati Cit andpraed
for the issuance of a writ of preliminar attachment'
#' Januar ++, !((+: RC issued an order granting the
applicationfor preliminar attachment upon posting ) $%BC of
anattachment )ond worth P/000.00.
5' Januar +3, +((+: RC issued a writ of preliminar attachment
forthe amount of P+#,+00,000'00'
3' 6uring a hearing )efore the Ar)itration Committee of the
PC*C,there was a mutual agreement )etween Insular and $%BC toe7uall
and temporaril divide )etween themselves the said
! $ar %ast Bank and rust Compan+ Philippine Clearing *ouse
Corporation
amount while the dispute has not et )een resolved' As a
result,the sum of P#2/00/000.00 is in possession of $%BC'
8' 4arch (, !((2: Insular filed a petition to discharge
attachment )counter9)ond in the amount of P#2/00/000.00.
(' RC Judge Amin denied the motion stating that the
counter9)ondposted ) Insular should include the unsecured portion
of$%BC/s claim plus actual damages, legal interest, eemplardamages
and attorne/s fees with a total amount ofP2%/23%/%00.00' hen,
Insular filed a motion for reconsiderationwhich was also denied )
the RC'
!0' Insular went to the CA ascri)ing on the trial court the
commissionof &A6A;%J'
