sc.judiciary.gov.ph/jurisprudence/2012/august2012/190144.pdf
"x x x.
Garnishment has been defined as a specie of attachment for reaching credits belonging to the judgment debtor and owing to him from a stranger to the litigation.
A writ of attachment is substantially a writ of execution
except that it emanates at the beginning, instead of at the termination, of a suit. It places the attached properties in custodia legis, obtaining pendente lite a lien until the judgment of the proper tribunal on the plaintiff’s claim is
established, when the lien becomes effective as of the date of the levy.
By virtue of the writ of garnishment, the deposits of the defendants with Citytrust were placed in custodia legis of the court. From that time onwards, their deposits were under the sole control of the RTC and Citytrustholds them subject to its orders until such time that the attachment or garnishment is discharged, or the judgment in favor of Lee is satisfied or the
credit or deposit is delivered to the proper officer of the court.
Thus, Citytrust, and thereafter BPI, which automatically assumed the former’s liabilities and obligations upon the approval of their Articles of Merger, is obliged to keep the deposit intact and to deliver the same to the proper officer upon order of the court.
x x x,"
