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Construction & Development Corp. Of the Phils. Vs. Vicente Leogardo, Jr., et al.

CONSTRUCTION & DEVELOPMENT CORPORATION OF THE PHILIPPINES, petitioner, vs. HON. VICENTE LEOGARDO, JR., Acting for and in behalf of the Minister of Labor and Employment, and NATIONAL MINES AND ALLIED WORKERS UNION (NAMAWU-MIF), respondents.

G.R. Nos. L-64207-08 | 1983-11-25

R E S O L U T I O N


MELENCIO-HERRERA, J.:

This case arose from the following antecedents:

In 1971, the Development Bank of the Philippines (DBP, for brevity) foreclosed the plant of Midland Cement Corporation (Midland, for brevity), which was mortgaged to it to secure a loan, for its failure to pay its obligations. In August 1975, petitioner Construction & Development Corporation of the Philippines (CDCP, for brevity), now a government-controlled corporation, leased the facilities of Midland from the DBP, which had then acquired the controlling interest in Midland.

However, due to serious financial reverses, CDCP requested from DBP...