Concurring Opinion re PSBank TRO: “bank secrecy remains the general rule.”

Here is the concurring opinion of the Supreme Court re G.R. No. 200238 – PHILIPPINE SAVINGS BANK and PASCUAL M. GARCIA III, as representative of Philippine Savings Bank and his personal capacity, Petitioners, v. SENATE IMPEACHMENT COURT

The view expressed that the majority’s TRO is “a mockery of all existing laws designed to insure transparency and good governance in public service”[27] is likewise not well taken. This view declares that “the majority ruling advises all government officials and employees that they can legally evade reporting their actual assets in their Statement of Assets, Liabilities, and Net Worth x x x by simply opening foreign currency deposit accounts with local banks.”[28]

The majority makes no such ruling in granting the TRO. The question the Court has resolved for now is whether the facts and the law justify the issuance of a TRO. The object of a TRO, as earlier mentioned, is to simply maintain the status quo. The TRO, to be sure, is not a ruling encouraging public officials to use foreign deposits to legally evade the correct SALN report. To so claim is to extend the import of TRO beyond its clear objective to maintain the status quo.

In light of these considerations, I reiterate my vote for the grant of the petitioner’s prayer for the issuance of the TRO.

G.R. No. 200238 – Concurring Opinion Re PSBank TRO

Source: concurring opinion from Supreme Court

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About Noemi Lardizabal-Dado

View all posts by Noemi Lardizabal-Dado
Noemi, Editor of Blog Watch and features editor of Philippine Online Chronicles is a 54 year old mother to three kids and is married to Atty. Luis H. Dado. She loves being a full time mother and homemaker after retiring as a Researcher/Consultant from the UP Institute for Small Scale Industries in 1987. Now that her children are all college graduates, she devotes her time to grief support, blogging, new media events and using her blogs to promote online advocacies. Her personal blog is at aboutmyrecovery.com, which garnered numerous awards such as Best Website, Blog Category during the 9th and 10th Philippine Web Awards. Her blog also won in the Blog- Personal Category of the DigitalFilipino.com Web Awards 2007 and Globelines Broadband Family Blog Award (in honor of family-oriented blogging) 2007 Philippine Blog Award. Globe also recognized her as Digital Elder in the 2009 Philippine Blog Award.
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