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Producers Bank of the Philippines, Antonio Perry & Tristan Catindig vs Bank of Phil Islands & CA

PRODUCERS BANK OF THE PHILIPPINES, ANTONIO M. PERRY, and TRISTAN CATINDIG, petitioners, vs. BANK OF THE PHILIPPINE ISLANDS and THE COURT OF APPEALS, respondents.

G.R. No. 125167 | 2000-09-08

D E C I S I O N 

PARDO, J.: 

The case before the Court is an appeal from the decision of the Court of Appeals reversing that of the trial court dismissing the case, and remanding the same to the trial court for further proceedings.[1] 

The facts are as follows: 

On August 15, 1980, Dewey Dee, Donald Dee, Emmanuel Cu, Michael Barreto and Angelito Lagos as pledgors, executed in favor of Ayala Investment & Development Corporation (AIDC), a deed of pledge covering their shares of stock in Producers Bank of the Philippines. Under the deed of pledge, the pledgors delivered by way of pledge unto AIDC, its successors and...