Manila, April 26 -- The Supreme Court (SC) cleared the Bangko Sentral ng Pilipinas (BSP) and the Philippine National Bank (PNB) of liability in a claim filed by sugar farmers under Republic Act (RA) 7202 or the Sugar Restitution Law.
In a 12-page decision promulgated on February 6, the High Court, through Associate Justice Marvic Leonen, said: "the Court of Appeals erred in ruling that petitioner Bangko Sentral ng Pilipinas is mandated to pay the sugar producers."
Associate Justices Diosdado M. Peralta, Francis H. Jardeleza, Andres B. Reyes Jr., and Rosmari D. Carandang concurred.
The tribunal explained that the money to be used to compensate these sugar producers should come from the sugar restitution fund.
"Without the fund, there is ...