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Central Bank of the Phil. Vs. I.A.Court, etal.

CENTRAL BANK OF THE PHILIPPINES, petitioner, vs. HON. INTERMEDIATE APPELLATE COURT, ARTEX DEVELOPMENT CO., INC., EASTERN TEXTILE MILLS, INC., CENTRAL MANUFACTURING CORP., PACIFIC KNITTING MILLS, INC., and ATLAS TEXTILE DEVELOPMENT CORPORATION, respondents.

G.R. No. 69078 | 1989-12-04

D E C I S I O N


MEDIALDEA, J.:

This petition for review seeks to annul the decision of the then Intermediate Appellate Court (now Court of Appeals) which upheld the right of private respondents to purchase foreign exchange from petitioner Central Bank at the preferred exchange rate of P2.00 to US $1.00, and, (for the prejudice consequenced upon them) the payment of interests at the legal rate, on the amounts respectively due private respondents (Artex Development Co., Inc., Eastern Textile Mills, Inc., Central Manufacturing Corp., Pacific Knitting Mills, Inc. and Atlas Textile Development Corporation, hereafter, "private respondents"),...