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Banque De L'Indochine Et De Suez, etal. Vs R.Torres

BANQUE DE L'INDOCHINE ET DE SUEZ and BANQUE FRANCAIS DU COMMERCE EXTERIEUR, petitioners, vs. HONORABLE RAMON AM. TORRES, Presiding Judge, Regional Trial Court, Cebu City (Branch VII), HON. RICARDO DIAZ, Presiding Judge Regional Trial Court Manila (Branch XXVIII), CEBU SHIPYARD AND ENGINEERING WORKS, INC., SEVEN BROTHERS SHIPPING CORPORATION, YU HUE, JOHNNY YU, THE PHILIPPINE COAST GUARD, BUREAU OF CUSTOMS, PHILIPPINE PORTS AUTHORITY, HON. REGINO T. VERIDIANO II, Presiding Judge, Regional Trial Court, Manila (Branch XXXI), Deputy Sheriff RAMON G. ENRIQUEZ, PN Captain NAPOLEON C. BAYLON, GENSTAR CONTAINER CORPORATION, JOSE SISON, STARSHIP SHIPPING AGENCIES, INC., EXPRESS TRANSPORT CORPORATION, and MARITIME COMPANY OF THE PHILIPPINES, respondents.

G.R. Nos. 82405-06 | 1989-07-10

R E S O L U T I O N


PARAS, J.:

This is a Motion for Clarification and/or Reconsideration of Our decision promulgated November 24, 1988 where We dismissed the petition for being moot and academic. Finding the motion well taken, We hereby issue the following resolution.

Petitioners Banque de L'Indochine et de Suez (Banque Indosuez) and Banque Francais Du Commerce Exterieur (Banque Francais) are two (2) of the strongest commercial banks in France.

Banque Indosuez is licensed by our Central Bank to engage, as it is actually engaged, in offshore banking business in the Philippines.

Sometime in 1979, petitioners extended separate loans in...