Court Orders RCBC to Unfreeze Philippine Sanjia Steel Corporation Account
Cagayan de Oro City, Misamis Oriental — The Regional Trial Court of Misamis Oriental, Branch 41, issued a decisive order on December 23, 2024, reiterating its earlier resolution and temporary restraining order (TRO) to enjoin Rizal Commercial Banking Corporation (RCBC) and its Lapasan Business Center Branch Manager, Sherlene Seriña, from freezing the account of Philippine Sanjia Steel Corporation.
The account in question under the name Philippine Sanjia Steel Corporation, was allegedly frozen by RCBC despite the court’s prior instructions. The court reiterated its December 10 resolution and December 18 TRO, mandating RCBC to desist from actions that would contravene the orders.
The case, filed under docket number R-CDO-24-04257-CV, revolves around claims of specific performance and damages against RCBC and Seriña. The plaintiff, Philippine Sanjia Steel Corporation, represented by its Corporate Secretary John Paul Gonzales, alleged undue actions by the defendants and sought judicial relief.
Both parties have actively filed submissions, with the Plaintiff Corporation filing a Manifestation on December 19, 2024, and the Defendants responding with a Counter-Manifestation on December 20, 2024. These filings were duly noted by the court.
Presiding Judge Jeoffre W. Acebido emphasized compliance with the orders to protect the rights of the plaintiff and ensure adherence to judicial directives. Legal counsels for both parties, including Atty. Alphon Lagamon and Atty. David Rafael B. Mariano, were informed of the developments.
The case underscores the importance of safeguarding corporate rights and ensuring judicial orders are respected in financial disputes.
