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Chas Realty & Dev Corp vs Hon Tomas Talavera, et al

CHAS REALTY AND DEVELOPMENT CORPORATION, petitioner, vs. HON. TOMAS B. TALAVERA, in his capacity as Presiding Judge of the Regional Trial Court of Cabanatuan City, Branch 28, and ANGEL D. CONCEPCION, SR., respondents.

G.R. No. 151925 | 2003-02-06

D E C I S I O N

VITUG, J.:

Petitioner Chas Realty and Development Corporation (CRDC) is a domestic corporation engaged in property development and management. It is the owner and developer of a three-hectare shopping complex, also known as the Megacenter Mall (Megacenter), in Cabanatuan City.

The construction of Megacenter commenced in January 1996, but by the time of its so-called "soft opening" in July 1998, it was only partly completed due to lack of funds, said to have been brought about by construction overages due to the massive devaluation of the peso during the economic crisis in 1997, low occupancy, and rental arrearages of...