Text of the provision
Sec. 18. Disposition of money deposited. — Where the party against whom attachment had been issued has deposited money instead of giving counter-bond, it shall be applied under the direction of the court to the satisfaction of any judgment rendered in favor of the attaching party, and after satisfying the judgment the balance shall be refunded to the depositor or his assignee. If the judgment is in favor of the party against whom attachment was issued, the whole sum deposited must be refunded to him or his assignee.
2019 Rules of Civil Procedure (A.M. No. 19-10-20-SC), Rule 57, Section 18. Reproduced verbatim and verified word-for-word against the Supreme Court's official text and the ChanRobles rendering.
About this section
This is Section 18 of Rule 57 (Preliminary Attachment) of the 2019 Rules of Civil Procedure, the rules promulgated by the Supreme Court in A.M. No. 19-10-20-SC and in force since May 1, 2020. The text above is reproduced verbatim from the current rules.
Related provisions
- Section 17 — Recovery upon the counter.
- Section 19 — Disposition of attached property where judgment is for party against whom attachment was issued.
Cases citing this section
- Authorities on this section will be added here as each is verified against primary sources.