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1st Integrated Bonding & Insurance etal vs A.Isnani

FIRST INTEGRATED BONDING & INSURANCE CO., INC. and MARIAN REALTY & DEV. CORP., petitioners, vs. HON. ASAALI S. ISNANI, in his capacity as Presiding Judge, Branch CLIII, Regional Trial Court, Pasig, Metro Manila, RIZAL COMMERCIAL BANKING CORP. & DEPUTY SHERIFF JEZZER P. BOTE in his capacity as Special Sheriff, respondents.

G.R. No. 70246 | 1989-07-31

D E C I S I O N


GRIá'O-AQUINO, J.:

By this petition for certiorari and mandamus with preliminary injunction, the petitioners seek to stem the implementation of a writ of execution issued by the lower court to satisfy a final judgment in favor of the respondent Rizal Commercial Banking Corporation (hereafter "RCBC" or "the Bank") in a collection suit filed by the latter against the petitioner Marian Realty & Development Corporation (hereafter MRDC).

On February 2, 1977, MRDC obtained a P500,000 export financing loan from RCBC evidenced by a promissory note (Exh. A) payable within 148 days from date of execution (which would fall on...