This case has been cited 1 times or more.
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2013-12-04 |
PERLAS-BERNABE, J. |
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| Based on the foregoing, it is readily apparent that Ramos's action of issuing the PO and ATD ahead of the approval of the credit committee was actually conformant to regular company practice which BPI Family itself sanctioned. As such, Ramos cannot be said to have been negligent in his duties. To this end, it is well to note that in loan transactions, banks are mandated to ensure that their clients wholly comply with all the documentary requirements in relation to the approval and release of loan applications.[48] As BPI Family "uncharacteristically relaxed supervision over its divisions," yielding as it did to the demands of industry competition, it is but reasonable that it solely bears the loss of its own shortcomings. | |||||