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LAND BANK OF THE PHILIPPINES vs. THE CA, ECO MANAGEMENT Corp and EMMANUEL C. O?ATE

LAND BANK OF THE PHILIPPINES, petitioner, vs. THE COURT OF APPEALS, ECO MANAGEMENT CORPORATION and EMMANUEL C. O?ATE, respondents.

G.R. No. 127181 | 2001-09-04

D E C I S I O N

QUISUMBING, J.:

This petition for review on certiorari seeks to reverse and set aside the decision[1] promulgated on June 17, 1996 in CA-GR No. CV-43239 of public respondent and its resolution[2] dated November 29, 1996 denying petitioner's motion for reconsideration.[3]


The facts of this case as found by the Court of Appeals and which we find supported by the records are as follows:

On various dates in September, October, and November, 1980, appellant Land Bank of the Philippines (LBP) extended a series of credit accommodations to appellee ECO, using the trust funds of the Philippine Virginia Tobacco Administration...