Filipino-Chinese businessmen believe the move to open bank records at the impeachment trial of Chief Justice Renato Corona will not erode confidence in the banking industry for as long as the proper procedures are being observed, Cristino Lim, incoming president of the Chinese-Filipino Business Club Inc. (CFBCI), said on Thursday.

Asked whether the opening of bank records at the trial would affect the banking industry, Lim said in an interview at the 7th biennial convention of the CFBCI, “I think the opening of this account is in accordance with our laws…. So if it’s being followed, I don’t think there should be real apprehension.”

He said while there may be some effect, it’s not likely to be extensive.

The Supreme Court, meanwhile, deferred action on Corona’s petition for an order temporarily restraining the Senate Impeachment Court from proceeding with his trial.

Court Administrator and Spokesman Jose Midas Marquez said the Court deferred action on Corona’s petition for a TRO after Associate Justice Presbitero Velasco, who was assigned to handle it, inhibited from the case because his son, Marinduque Rep. Lord Allan Velasco, was among the 188 members of the House who signed the impeachment complaint. As a result, Corona’s petition will have to be re-raffled to another justice.

“Just the same the justices decided to require the respondents to file comment within 10 days.”

But the High Court granted the petition of Philippine Savings Bank (PSBank) for a temporary restraining order (TRO) and ordered the Senate Impeachment Court not to compel it to disclose details of five foreign currency deposits allegedly under Corona’s name. Marquez said eight of the justices voted to grant the petition; five opposed it.

Corona and Velasco Jr., did not participate in the deliberations.

The senator-Judges readily complied with the TRO barring scrutiny of Corona’s dollar deposits but expanded the inquiry into his peso accounts, to include time deposits and other investment instruments at the PSBank and Bank of Phil. Islands (BPI).

 “In deference to the Supreme Court’s TRO, this chair suggests that both the prosecution and defense panels take heed and let us discuss issues other than foreign currency deposits because of this TRO,” Senate President Juan Ponce Enrile ordered on learning of the High Court’s order on Day 15 of the Corona i trial.

But Senator-Judge Serge Osmena moved for the Impeachment Court to subpoena Corona’s “time deposits, investment trust funds and other financial instruments” offered by PSBank and BPI “because they belong to the category of bank deposits that this court was trying to find information about.”

“So ordered; issue the subpoena,” Enrile curtly directed after Osmena clarified that the latest directive from the Impeachment would only cover Corona’s peso accounts in PSBank and BPI that were shifted to other types of deposits.

The Senators discharged PSBank President Pascual Garcia III as a witness yesterday with Enrile instructing him to testify anew on Monday after senators meet in caucus to take up the TRO issued by the SC on Corona’s dollar deposits.

Garcia repeatedly sidestepped questions by the senators on Corona’s dollar deposts at PSBank, explaining that he would be violating the law if he were to release information on bank documents not covered by the subpoena issued by the Senate.

Later in trial, Enrile was reported have said BSP was investigating how the its documents were leaked to the prosecutors.

Lim also expressed support for the impeachment trial which he said showed that no one was untouchable in the government.

When asked, he said the impeachment proceedings seemed to ensure businessmen of a “level” playing field since the highest officials are being held accountable for their actions.

“There would be no untouchable, so to speak. The highest officials–we are willing to let him [Corona] be accountable for what he did…. Right now, most of the business are in favor of the trial going on, once and for all to settle the matter,” Lim said.

“The Court has already issued a TRO, we hope all those concerned will comply with the TRO issued by the SC... The TRO is indefinite until lifted,” Marquez said.

Marquez noted that the Court took into consideration Republic Act 6426, or the Foreign Currency Deposit Act.

The provision states that all foreign currency deposits are absolutely confidential in nature, and except upon the written permission of the depositor, such deposits cannot be examined or looked into by any person, including government official or any other entity whether public or private.

In his petition, Corona asked the Court to eventually declare null and void the impeachment complaint filed against him.

He cited the “undue liberality and flexibility” being accorded by the impeachment court to the members of the House of Representatives acting as prosecutors in the impeachment trial.

Such “liberal attitude” of the impeachment court, according to Corona, has allowed the prosecutors to go into a fishing expedition insofar as the supposed evidence against him, thus, violating his constitutional right to due process.

Corona also expressed fear the Impeachment Court would not be able to come up with a fair and just resolution of the complaint against him.

Meanwhile, around 7,000 people flocked at the SC premises to show their support for Corona and to call for the immediate termination of his impeachment trial.

The crowd started to gather outside the SC building at around 11 a.m., some wearing red shirt while others were clad in black, carrying placards calling for the Aquino administration to stop its attack on the independence of the judiciary.

Some of the protesters also assailed the Aquino administration for giving more priority to the impeachment of Corona instead of finding ways to improve the country’s economic situation.

The crowd cheered and chanted Corona’s name when he suddenly appeared from the balcony of the SC building minutes before the special full-court session started.

A tearful Corona waved at the crowd while his wife, Cristina, was seen wiping his tears and hugging him.

Several members of the influential Iglesia ni Cristo also participated in the protest action.