Back

Producers Bank of The Philippines vs Court of Appeals, Asia Trust Development Bank, et al

PRODUCERS BANK OF THE PHILIPPINES, petitioner, vs. HONORABLE COURT OF APPEALS, ASIA TRUST DEVELOPMENT BANK, RAINELDA A. ANDREWS, SAMSON FLORES, ALFONSO LEONG, JR., RHODORA D. LANDRITO, JOSEPH CHUA, RAMON YU, EDUARDO G. ESCOBAR, MILAGROS B. NAYVE, ELIZABETH C. GARCIA, ALBERTO LIMJOCO, SR., GLORIA E. MENPIN and ESPERANZA FLORENDO, respondents.

G.R. No. 126620 | 2002-04-17

D E C I S I O N

CARPIO, J.:

The Case

In this Petition for Review on Certiorari under Rule 45 of the 1997 Rules of Civil Procedure, petitioner Producer's Bank of the Philippines ("petitioner" for brevity) assails the September 19, 1996 Resolution[1] of the Court of Appeals in CA-G.R. CV No. 50016 which dismissed petitioner's appeal for being filed out of time. The Court of Appeals decreed thus:
 
"WHEREFORE, finding the Motion to Dismiss Appeal to be meritorious, the same is granted. The appeal is DISMISSED.

SO ORDERED."[2]
 
The Antecedent Facts

On March 29, 1988, petitioner through its former counsel, Atty....