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Traders Royal Bank Vs. Intermediate Appellate Court, Et Al.

TRADERS ROYAL BANK, petitioner, vs. HON. INTERMEDIATE APPELLATE COURT and HON. GREGORIO S. CENDA?A, in his capacity as DIRECTOR OF THE NATIONAL MEDIA PRODUCTION CENTER (NMPC), respondents.

G.R. No. 68514 | 1990-12-17

D E C I S I O N


FERNAN, J.:

In this petition for review on certiorari, the Traders Royal Bank (Traders) seeks to nullify the decision 1 of the then Intermediate Appellate Court ordering the dismissal of the collection case against the National Media Production Center (NMPC) and the Production Specialists, Inc. (PSI) insofar as the NMPC is concerned, and the release of the garnishment on the moneys of the NMPC as well as any attachment of its properties.

On April 9, 1981, Traders, a banking institution operating under Philippine laws, entered into a loan agreement with the NMPC, a government instrumentality tasked with the function of...