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Active Wood Products, Inc. vs. Intermediate Appellate Court, et al.

ACTIVE WOOD PRODUCTS, INC., petitioner, vs. INTERMEDIATE APPELLATE COURT and STATE INVESTMENT HOUSE, INC., respondents.

G.R. No. 70144 | 1990-03-26

D E C I S I O N


GUTIERREZ, JR., J.:

The issue raised in this petition for review is the legality of the trial court's order nullifying an extrajudicial foreclosure sale which proceeded as scheduled despite its order for the issuance of a writ of preliminary injunction to enjoin the sale on auction upon the filing of P1,000,000.00 bond by the petitioner within fifteen (15) days from notice.

On June 7, 1982, petitioner Active Wood Products, Co., Inc., filed an action for injunction against private respondent State Investment House, Inc., with the Court of First Instance of Malolos, Bulacan, alleging, among others that it had mortgaged...