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Commodities Storage & Ice Plant Corp., et al. vs. Court Of Appeals, et al.

COMMODITIES STORAGE & ICE PLANT CORPORATION, SPOUSES VICTOR & JOHANNAH TRINIDAD, petitioners, vs. COURT OF APPEALS, JUSTICE PEDRO A. RAMIREZ, CHAIRMAN and FAR EAST BANK & TRUST COMPANY, respondents.

G.R. No. 125008 | 1997-06-19

D E C I S I O N

PUNO, J:

In this petition for certiorari, petitioner seeks to annul and set aside the decision and resolution of the Court of Appeals 1 in CA-G.R. SP No. 36032 dismissing the complaint in Civil Case No. 94-72076 before the Regional Trial Court, Branch 9, Manila.

The facts show that in 1990, petitioner spouses Victor and Johannah Trinidad obtained a loan of P31,000,000.00 from respondent Far East Bank & Trust Company to finance the purchase of the Sta. Maria Ice Plant & Cold Storage in Sta. Maria, Bulacan. The loan was secured by a mortgage over the ice plant and the land on which the ice plant stands. Petitioner spouses...