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    Francis R. Yuseco, Jr. v. Philippine Deposit Insurance Corporation (PDIC) (G.R. No. 217899, September 28, 2016)

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    Francis R. Yuseco, Jr. v. Philippine Deposit Insurance Corporation (PDIC) (G.R. No. 217899, September 28, 2016)

    Uploaded by

    yyruusheeshhaha
    88 views1 page

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    88 views1 page

    Francis R. Yuseco, Jr. v. Philippine Deposit Insurance Corporation (PDIC) (G.R. No. 217899, September 28, 2016)

    Uploaded by

    yyruusheeshhaha

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
    Download as docx, pdf, or txt
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    Francis R. Yuseco, Jr. v. Philippine Deposit Insurance Corporation (PDIC) (G.R. No.

    217899, September 28, 2016):

    Doctrine:
    - The case involves the liquidation of Unitrust Development Bank (UDB) by PDIC.
    - Yuseco, a depositor, filed a claim against PDIC for the funds from his unpaid
    checks issued by UDB.
    - The court clarified the legal status of cashier's checks and their effect on the
    depositor's claim.

    Facts:
    - Yuseco withdrew funds from UDB in the form of crossed cashier's checks.
    - BSP suspended UDB's clearing privileges, rendering the checks unpaid.
    - UDB was placed under PDIC's receivership.

    Issue:
    - Whether the cashier's checks operated as an assignment of funds in Yuseco's
    hands.

    Ruling:
    - The court held that the purchase of a cashier's check creates a creditor-debtor
    relationship, not an assignment of funds.
    - Yuseco's claim was dismissed, but he could still file a claim against UDB.

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