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Union Bank of The Philippines, Petitioner, vs. Court of Appeals and Allied Bank Corporation
Union Bank of The Philippines, Petitioner, vs. Court of Appeals and Allied Bank Corporation
(6) In cases where the money deposited or invested is the subject matter of the
litigation
In the case at bar, petitioner is only fishing for information so it can determine
the culpability of private respondent and the amount of damages it can recover
from the latter. It appears that the true purpose for the examination is to aid
petitioner in proving the extent of Allied Bank's liability.
It does not seek recovery of the very money contained in the deposit. The subject
matter of the dispute may be the amount of P999,000.00 that petitioner seeks
from private respondent as a result of the latter's alleged failure to inform the
former of the discrepancy; but it is not the P999,000.00 deposited in the drawer's
account. By the terms of R.A. No. 1405, the "money deposited" itself should be
the subject matter of the litigation.
That petitioner feels a need for such information in order to establish its case
against private respondent does not, by itself, warrant the examination of the
bank deposits. The necessity of the inquiry, or the lack thereof, is immaterial
since the case does not come under any of the exceptions allowed by the Bank
Deposits Secrecy Act.