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PHILIPPINE VETERANS BANK EMPLOYEES UNION-NUBE v. PHILIPPINE VETERANS BANK

This case has been cited 4 times or more.

	GR No. 177131 2011-06-07	BOY SCOUTS OF PHILIPPINES v. COA LEONARDO-DE CASTRO, J.
Under the above definition, the BSP is neither a unit of the Government; a department which refers to an executive department as created by law (Section 2 [7] of the Administrative Code); nor a bureau which refers to any principal subdivision or unit of any department (Section 2 [8], Administrative Code). [10]
	GR No. 184778 2009-10-02	BANGKO SENTRAL NG PILIPINAS MONETARY BOARD v. NINA G. ANTONIO-VALENZUELA VELASCO JR., J.
The "close now, hear later" doctrine has already been justified as a measure for the protection of the public interest. Swift action is called for on the part of the BSP when it finds that a bank is in dire straits. Unless adequate and determined efforts are taken by the government against distressed and mismanaged banks, public faith in the banking system is certain to deteriorate to the prejudice of the national economy itself, not to mention the losses suffered by the bank depositors, creditors, and stockholders, who all deserve the protection of the government.[13]
	GR NO. 156761 2006-10-17	LADY LYDIA CORNISTA-DOMINGO v. NLRC GARCIA, J.
On August 24, 1990, the Court promulgated a consolidated[3] en banc Decision[4] in G.R. No. 67125 upholding the authority of the Monetary Board to place the respondent Bank under liquidation as well as the legality of the termination of all the Bank's employees, including the members of the Union. The Court also rejected the dismissed employees' claim for back wages as it held that they were not illegally dismissed but lawfully separated as a result of the Bank's liquidation upon order of the Monetary Board.
	GR No. 147402 2004-01-14	ENGR. RANULFO C. FELICIANO v. COA CARPIO, J.
The determining factor of COA's audit jurisdiction is government ownership or control of the corporation. In Philippine Veterans Bank Employees Union-NUBE v. Philippine Veterans Bank,[22] the Court even ruled that the criterion of ownership and control is more important than the issue of original charter, thus:This point is important because the Constitution provides in its Article IX-B, Section 2(1) that "the Civil Service embraces all branches, subdivisions, instrumentalities, and agencies of the Government, including government-owned or controlled corporations with original charters." As the Bank is not owned or controlled by the Government although it does have an original charter in the form of R.A. No. 3518,[23] it clearly does not fall under the Civil Service and should be regarded as an ordinary commercial corporation. Section 28 of the said law so provides. The consequence is that the relations of the Bank with its employees should be governed by the labor laws, under which in fact they have already been paid some of their claims. (Emphasis supplied)