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Project Builders, Inc., Calapatia,Jr and Enriquez vs CA and Industrial Finance Corp

PROJECT BUILDERS, INC., GALICANO A. CALAPATIA, JR., and LEANDRO ENRIQUEZ, petitioners, vs. THE COURT OF APPEALS and INDUSTRIAL FINANCE CORPORATION, respondents.

G.R. No. 99433 | 2001-06-19

D E C I S I O N

VITUG, J.:

This case has been re-raffled to herein ponente pursuant to the Court's Resolution in A.M. No. 00-9-03-SC of 27 February 2001. The petition for review on certiorari oppugns the decision of the Court of Appeals in CA-G.R. CV No. 08582, entitled "Industrial Finance Corporation vs. Project Builders, Inc., et al.," reversing the decision of Branch XX of the Regional Trial Court of Manila in Civil Case No. 141774.

The antecedents of the case were capsulized by the trial court and cited by the appellate court; viz:

"This collection suit was filed on July 17, 1981 by Industrial Finance Corporation (IFC for short) against...