Likewise, the letter-offer stated that in consideration of advancing the construction cost, the group wanted to be given the "exclusive option to purchase" the building and the lot on which it was constructed Puyat offering to lease the building for ten (10) years and to advance the cost to complete the same, with the advanced cost to be amortized and offset against rental payments. Laureano (hereafter referred to as Laureano group), wrote Vicente G.
Santos as Liquidator was amended by the Central Bank on Decemto that of Statutory Receiver. Manila Bank regarding the legality of its closure. The liquidation, however, was held in abeyance pending the outcome of the earlier suit filed by 505, ordered the liquidation of Manila Bank and designated Atty. On November 11, 1988, the Central Bank, by virtue of Monetary Board (MB) Resolution No. The legality of the closure was contested by the. On May 22, 1987, the Central Bank of the Philippines, now Bangko Sentral ng Pilipinas, ordered the closure of Manila Bank and placed it under receivership, with Feliciano Miranda, Jr. Not long after, however, the bank encountered financial difficulties that rendered it unable to finish construction of the building. Prior toġ984, the bank began constructing on said land a 14-storey building. 132935 of the Registry of Deeds of Makati. Respondent Manila Banking Corporation (Manila Bank, for brevity), owns a 1,435-square meter parcel of land located along Gil Puyat Avenue Extension, Makati City and covered by Transfer Certificate of Title (TCT) No.
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