G.R. No. 208293, December 10, 2014
FACTS: Respondents are children of Angel C. Santos who died on March 21, 1991. Sometime in May 1996, respondents discovered that their father maintained a premium savings account with Philippine National Bank (PNB). Later, respondents would discover that their father also had a time deposit of with PNB. Respondents went to PNB to withdraw their father’s deposit.
Lina B. Aguilar, the Branch Manager, required them to submit the following: (1) original or certified true copy of the Death Certificate of Angel C. Santos; (2) certificate of payment of, or exemption from, estate tax issued by the Bureau of Internal Revenue (BIR); (3) Deed of Extrajudicial Settlement; (4) Publisher’s Affidavit of publication of the Deed of Extrajudicial Settlement; and (5) Surety bond effective for two (2) years and in an amount equal to the balance of the deposit to be withdrawn."
Upon obtaining the necessary documents, they tried to withdraw the deposit. However, Aguilar informed them that the deposit had already been released to a certain Bernardito Manimbo. The amount was released upon presentation of: (a) an affidavit of self-adjudication purportedly executed by one of the respondents, Reyme L. Santos; (b) a certificate of time deposit; and (c) the death certificate of Angel C. Santos, among others. A special power of attorney was purportedly executed by Reyme L. Santos in favor of Manimbo and a certain Angel P. Santos for purposes of withdrawing and receiving the proceeds of the certificate of time deposit. Because of this, respondents filed before the RTC a complaint for sum of money and damages against PNB, Lina B. Aguilar, and a John Doe for the release of the deposit amount to Manimbo who had no authority from them to withdraw their father’s deposit and who failed to present to PNB all the requirements for such withdrawal.
PNB and Aguilar denied that Angel C. Santos had two separate accounts. They alleged that Angel C. Santos’ deposit account was originally a time deposit account that was subsequently converted into a premium savings account.
PNB and Aguilar filed a third-party complaint against Manimbo, Angel P. Santos, and Capital Insurance and Surety Co., Inc.
In the decision, the trial court held that PNB and Aguilar were liable to pay respondents as they were both negligent in releasing the deposit to Manimbo. However, the trial court found that Angel C. Santos had only one account with PNB. The account was originally a time deposit, which was converted into a premium savings account when it was not renewed on maturity.
The trial court noted PNB’s failure to notify the depositor about the maturity of the time deposit and the conversion of the time deposit into a premium savings account.
Aguilar filed a motion for reconsideration which was denied.
PNB and Aguilar appealed before the Court of Appeals. In the decision, the Court of Appeals sustained the trial court’s finding and added that the deposit amount was released to Manimbo when the latter did not present all the requirements.
PNB and Aguilar filed their separate petitions for review of the Court of Appeals.
ISSUE: Whether trial court and the Court of Appeals correctly found that petitioners PNB and Aguilar were negligent in handling the deposit of Angel C. Santos.
HELD: Yes. Philippine National Bank and Lina Aguilar were negligent in releasing the deposit to Bernardito Manimbo without the latter presenting all requirements, particularly a BIR-issued certificate of payment of, or exception from, estate tax.
This is a legal requirement before the deposit of a decedent is released. The tax code applicable when Angel C. Santos died in 1991 is Presidential Decree No. 1158. Section 118 of the aforementioned law provides that if a bank has knowledge of the death of a person who maintained a bank deposit account alone, or jointly with another, it shall not allow any withdrawal from the said deposit account, unless the Commissioner has certified that the taxes imposed thereon by this Title have been paid. This provision was reproduced in Section 97 of the 1997 National Internal Revenue Code
Petitioners PNB and Aguilar were clearly negligent when they accepted as bases for the release of the deposit to Manimbo: (a) a mere photocopy of Angel C. Santos’ death certificate; (b) the falsified affidavit of self-adjudication and special power of attorney purportedly executed by Reyme L. Santos; and (c) the certificate of time deposit.
Given the circumstances, "diligence of a good father of a family" would have required petitioners PNB and Aguilar to verify. The acceptance of invalid and incomplete documents to support the deposit’s release to Manimbo was a violation of the bank’s fiduciary duty to its clients. These acts constituted gross negligence on the part of petitioners PNB and Aguilar.
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