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[2/2] PNB vs. Marcelino L. Sayo, Jr., et al.

[2/2] PHILIPPINE NATIONAL BANK, petitioner, vs. HON. MARCELINO L. SAYO, JR., in his capacity as Presiding Judge of the Regional Trial Court of Manila (Branch 45), NOAH'S ARK SUGAR REFINERY, ALBERTO T. LOOYUKO, JIMMY T. GO and WILSON T. GO, respondents.

G.R. No. 129918 | 1998-07-09

C. Petitioner is Liable for Storage Fees.

We confirmed petitioner's liability for storage fees in G.R. No. 119231. However, petitioner's status as to the quedans must first be clearly defined and delineated to be able to determine the extent of its liability.

Petitioner insisted, both in its petition and during the oral arguments on 24 November 1997, that it was a mere pledgee as the quedans were used to secure two loans it granted. 36 In our decision in G.R. No. 107243, we upheld this contention of petitioner, thus:

Zoleta and Ramos then used the quedans as security for loans obtained by them from the Philippine National Bank (PNB) as...