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Development Bank of the Phils. Vs. Intermediate Appellate Court, et al.

DEVELOPMENT BANK OF THE PHILIPPINES, petitioner, vs. INTERMEDIATE APPELLATE COURT and LA CAMPANA FOOD PRODUCTS, INC., respondents.

G.R. No. L-65338 | 1985-12-03

D E C I S I O N


MELENCIO-HERRERA, J.:

This case is a controversy between petitioner (DBP), a creditor Bank, and the private respondent (LA CAMPANA), a corporation engaged in the food processing business. The controversy involves the determination of facts in the light of their perspectives, as well as the determination of a reasonable and equitable conclusion based on those facts.

As of December 31, 1967, LA CAMPANA was indebted to local banks (other than DBP) in the sum of P1,996,026.13, and had payables to other creditors of P4,500,189.10, or a total of P6,496,215.23 (Exhibits "8", "8-A", "8-B"). As of 1968, LA CAMPANA had three (3)...