Back

Republic Flour Mills Inc. vs. Central Bank of the Phil.

REPUBLIC FLOUR MILLS INC., plaintiffs-appellant, vs. CENTRAL BANK OF THE PHILIPPINES, defendant-appellee.

G.R. No. L-23642 | 1979-08-31

D E C I S I O N

CONCEPCION JR., J:

Appeal from the judgment of the Court of First Instance of Manila dismissing the complaint for the recovery of certain sums of money collected by the defendant as "margin fees" under Republic Act No. 2609, on purchases of foreign exchange for the payment of machinery equipment, etc., used for the expansion of appellant's flour milling facilities.

The plaintiff-appellant, Republic Flour Mills, Inc., a domestic corporation with main offices at Pioneer Street, Pasig, Rizal, is the owner and operator of a wheat flour mill, with an annual capacity of 50,000 metric tons of flour. As a by-product of its...