On December 7, 2007, the Supreme Court of the Philippines affirmed a judgment dismissing the state's sequestration of Lucio Tan's companies: "There can be no question that indeed, petitioner's (the government's) orders of sequestration are void and have no legal effect." The landmark decision would trigger a planned merger between PNB and Tan's own Allied Banking Corporation. Edgar Bancod, research head, ATR-Kim Eng Securities, stated that the merged bank would become the country's 4th biggest after Metrobank, Banco de Oro, and Bank of the Philippine Islands.