Press Release
March 10, 2012

SC urged to lift TRO on CJ dollar accounts;
Drilon says TRO becomes ineffectual

Senator Franklin M. Drilon today called on the Supreme Court to finally lift the temporary restraining order it had earlier issued on the Senate's subpoena on the dollar accounts of Chief Justice Renato C. Corona.

Drilon's call came after CJ Corona told a series of media interviews this week that he was willing to open all his bank accounts, including his foreign currency deposits, when the impeachment court resumes session next week.

"The TRO preventing the opening of dollar accounts of the Chief Justice has, in effect, become moot and academic since Corona said he was willing to divulge his dollar accounts," explained Drilon.

"Kung yung may-ari nga ng account ay handang ipakita yung kanyang bank accounts, kasama ang dollar deposits, bakit pa kailangang pigilan ito ng Supreme Court," asked Drilon.

The TRO was issued in a vote of 8-5 favoring the request of the Philippine Savings Bank, through its President Pascual Garcia III, who opted to testify at the impeachment court only on local currency deposits of Corona and not on the dollar accounts.

With Corona's supposed willingness, Drilon said that the opening of his dollar accounts will no longer be a violation of the Republic Act No. 6426, the law that protects foreign currency deposit in the country, when Senate, sitting as an impeachment court, asks for it when session resumes.

"The bone of contention before was that the opening of his dollar accounts would violate the provision of RA 6426, but now, with the recent development, it appears to me that no provision would be violated in case the Senate inquires on his dollar accounts," said Drilon.

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