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Land Bank Of The Phil. Vs. Dionisio N. Capistrano, Et Al.

IN RE: PETITION FOR DECLARATION OF INSOLVENCY OF [A] FILAND MANUFACTURING AND ESTATE DEVELOPMENT COMPANY; [B] TOP CONSTRUCTION ENTERPRISES, INC.; AND [C] SPOUSES EMILIO CHING AND INAI TEH; EMILIO CHING, petitioner, LAND BANK OF THE PHILIPPINES, oppositor. LAND BANK OF THE PHILIPPINES, petitioner, vs. HON. DIONISIO N. CAPISTRANO, JUDGE OF THE REGIONAL TRIAL COURT OF PASAY CITY, EMILIO CHING AND FILAND MANUFACTURING AND ESTATE DEVELOPMENT CO., INC., respondents. Lily K. Gruba and Florencio S. Jimenez for Land Bank of the Philippines.

G.R. No. 73123 | 1991-09-02

D E C I S I O N


FERNAN, C.J.:

Assailed in this petition for review on certiorari is the jurisdiction of the Regional Trial Court (RTC) of Pasay City over a petition for declaration of insolvency of two (2) private corporations.

The antecedent facts are undisputed:

On September 19, 1980, private respondents Filand Manufacturing and Estate Development Co., Inc. (hereafter, Filand Manufacturing) and Emilio Ching obtained from petitioner Land Bank of the Philippines a loan in the amount of Ten Million Pesos (P10,000,000.00). Private respondents having failed to pay the loan on its due date, petitioner instituted before the RTC of Manila a...