AMA Rural Bank of Mandaluyong, Inc. (AMA Bank) is requesting clarification from the Bangko Sentral ng Pilipinas (BSP) regarding its position on AMA Bank's pending second Motion for Reconsideration with the Supreme Court and the bank's reopening. The BSP's statement claims that the pending motion does not prevent the bank from reopening and paying its depositors and creditors, but AMA Bank argues this contradicts the BSP's previous legal filings. AMA Bank is formally requesting the BSP to clarify its stance and either withdraw its conflicting legal arguments or confirm its press release as an official authorization for the bank's reopening.
issued on January 30, 2025, AMA Rural Bank of Mandaluyong, Inc. seeks clarification on BSP ’s position regarding its pending second Motion for Reconsideration with the Supreme Court and the bank’s reopening.
Given the apparent contradiction between BSP’s press release and its legal arguments, AMA Bank is now formally requesting BSP to clarify whether it has abandoned its second Motion for Reconsideration with the Supreme Court and its Comment/Opposition to AMA Bank’s Motion for Execution with the Court of Appeals. If BSP no longer stands by these filings, AMA Bank urges BSP to formally withdraw them.
AMA Bank BSP Supreme Court Reopening Motions For Reconsideration
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