For over five years, depositors of AMA Rural Bank of Mandaluyong, Inc. (“AMA Bank”) have been left in limbo, unable to access their hard-earned money. Many of them, particularly senior citizens, have tirelessly pursued justice, hoping for a resolution that would allow them to reclaim their deposits. Their frustration has only deepened with each passing year, as the legal and bureaucratic entanglements continue to delay the reopening of the bank. Tragically, some of these depositors have passed away without seeing the resolution they long fought for. On 1 March 2023, the First Division of the Supreme Court (“SC First Division”) issued a Resolution of even date (“First SC Resolution”) denying the respective SC Petitions of the Bangko Sentral ng Pilipinas (“BSP”) and the Philippine Deposit Insurance Corporation (“PDIC”) and affirming the CA Decision. This ruling ordered BSP to reopen AMA Rural Bank within five days and mandated PDIC to return the seized funds and assets within the same pe...
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