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Traders Royal Bank vs Radio Phil Network, IBC & Banahaw Broadcasting

TRADERS ROYAL BANK, petitioner, vs. RADIO PHILIPPINES NETWORK, INC., INTERCONTINENTAL BROADCASTING CORPORATION and BANAHAW BROADCASTING CORPORATION, through the BOARD OF ADMINISTRATORS, and SECURITY BANK AND TRUST COMPANY, respondents.

G.R. No. 138510 | 2002-10-10

D E C I S I O N

CORONA, J.:

Petitioner seeks the review and prays for the reversal of the Decision[1] of April 30, 1999 of Court of Appeals in CA-G.R. CV No. 54656, the dispositive portion of which reads:

WHEREFORE, the appealed decision is AFFIRMED with modification in the sense that appellant SBTC is hereby absolved from any liability. Appellant TRB is solely liable to the appellees for the damages and costs of suit specified in the dispositive portion of the appealed decision. Costs against appellant TRB.

SO ORDERED.[2]

As found by the Court of Appeals, the antecedent facts of the case are as follows:

On April 15, 1985, the Bureau...