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State Investment House, Inc. vs. CA, et al.

STATE INVESTMENT HOUSE, INC., petitioner, vs. HON. COURT OF APPEALS, HON. DOROTEO N. CA?EBA, in his capacity as Presiding Judge of Branch 20, Regional Trial Court, Manila, PEDRO O. VALDEZ, respondents.

G.R. No. L-82446 | 1988-07-29

D E C I S I O N

GRIá'O-AQUINO, J p:

The issue posed by the petition in this case is whether the trial court (whom the Court of Appeals sustained) gravely abused its discretion in lifting the preliminary attachment on the private respondents' properties.

On September 30 and October 31, 1977, Pedro O. Valdez and Rudy H. Sales executed two Comprehensive Surety Agreements to secure any and all loans of P.O. Valdez, Inc. not exceeding the sums of P500,000 (Annex C) and P4,934,000 (Annex D) from the petitioner State Investment House, Inc., a domestic corporation engaged in quasi banking.

Four years later, on July 30, 1981, petitioner and...