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RUBY L. TSAI vs. HON. CA, EVER TEXTILE MILLS, INC. and MAMERTO R. VILLALUZ

RUBY L. TSAI, petitioner, vs. HON. COURT OF APPEALS, EVER TEXTILE MILLS, INC. and MAMERTO R. VILLALUZ, respondents.

G.R. No. 120098 | 2001-10-02

D E C I S I O N

QUISUMBING, J.:

These consolidated cases assail the decision[1] of the Court of Appeals in CA-G.R. CV No. 32986, affirming the decision[2] of the Regional Trial Court of Manila, Branch 7, in Civil Case No. 89-48265. Also assailed is respondent court's resolution denying petitioners' motion for reconsideration.

On November 26, 1975, respondent Ever Textile Mills, Inc. (EVERTEX) obtained a three million peso (P3,000,000.00) loan from petitioner Philippine Bank of Communications (PBCom). As security for the loan, EVERTEX executed in favor of PBCom, a deed of Real and Chattel Mortgage over the lot under TCT No. 372097, where...