The Court of Appeals has denied the petition of Banco Filipino Savings & Mortgage Bank (BF) to be reopened after being ordered closed by the Bangko Sentral ng Pilipinas earlier this year.
The appellate court denied the petition filed by BF’s stockholders to stop the implementation of the Central Bank’s order to place it under receivership. The appellate court said in a resolution report obtained by the media on Tuesday , that it found no merit to the request of the closed thrift bank. [ FULL STORY ]
