Rules on Liquidation of Closed Banks, Supreme Court A.M. No. 19-12-02-SC (Philippines)
The Rules on Liquidation of Closed Banks provide the nature and procedure on the filing of the Petition for Assistance in the Liquidation of a closed bank. The liquidation court is the Special Commercial Court which has jurisdiction over the principal office of the closed bank or receiver, at the option of the latter. They further provide for the process on filing of claims against closed banks and the proceedings with respect to the approval of the asset distribution plan.