Decision
Tick v. Co
G.R. No. 43682 · 1938-03-31 · IMPERIAL, J. · LawPhil
In Re Liquidation of Mercantile Bank of China. TAN TIONG TICK, claimant-appellant, vs. AMERICAN APOTHECARIES CO., ET AL., claimants-appellees. Cirilo Lim and Antonio Gonzalez for appellant. Eusebio Orense and Carmelino G. Alvendia for appellees Chinese Grocers Asso., et al. Marcelo Nubla for…
IMPERIAL, J.:
In the proceedings for the liquidation of the Mercantile Bank of China, the appellant presented a written claim alleging: that when this bank ceased to operate on September 19, 1931, his current account in said bank showed a balance of P9,657.50 in his favor; that on the same date his savings account in the said bank also showed a balance in his favor of P20,000 plus interest then due amounting to P194.78; that on the other hand, he owed the bank in the amount of P13,262.58, the amount of the trust receipts which he signed because of his withdrawal from the bank of certain merchandise consigned to him without paying the drafts drawn upon him by the remittors thereof; that the credits thus described should be set off against each other according to law, and on such set off being made it appeared that he was still the creditor of the bank in the sum of P16,589.70. And he asked that the court order the Bank Commissioner to pay him the aforesaid balance and that the same be declared as preferred credit.
The claim was referred to the commissioner appointed by the court, who at the same time acted as referee, and this officer recommended that the balance claimed be paid without interest and as an ordinary credit. The court approved the recommendation and entered judgment in the accordance therewith. The claimant took an appeal.
In his report the commissioner classified the claims presented under the following six groups: "(First) Current accounts, savings and fixed deposits. (Second) Checks or drafts sold by the Mercantile Bank of China and not paid by the correspondents or banks against which they were drawn. (Third) Checks or drafts issued by the Mercantile Bank of China in payment or reimbursement of drafts or goods sent to it for collection by banks and foreign commercial houses against merchants or commercial entities of Manila.
(Fourth) Drafts for collection received by the Mercantile Bank of China to be collected from merchants and commercial entities in Manila and which were pending collection on the date of the suspension of payments. (Fifth) Claims of depositors who are at the same time debtor of the Mercantile Bank of China.(Sixth Various claims." And referring to the claims of the appellant, he states: Mr. Tan Tiong Tick claims from the Mercantile Bank of China the amount of P 27,597.80, the total amount of the following sums which he has in his favor in said bank including the corresponding interest: Balance on the current account .
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. P7,390.11 Balance of savings account No. 2266 . .
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20,000.00 Total . . .
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