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Alfredo Ouano vs CA and Heirs of Julieta Ouano

ALFREDO M. OUANO, petitioner, vs. COURT OF APPEALS, and HEIRS OF JULIETA M. OUANO, respondents.

G.R. No. 129279 | 2003-03-04

D E C I S I O N

AZCUNA, J.:

Before us is a petition for review on certiorari against the decision and resolution of the Court of Appeals on CA-GR CV No. 33499[1] affirming the decision of the Regional Trial Court of Cebu, Branch 19, in Civil Case No. CEB-596, which set aside the extrajudicial foreclosure proceedings involving respondents' properties.

From the documentary evidence and the Stipulation of Facts[2] filed by the parties before the Regional Trial Court of Cebu, the facts of the case are, as follows:

On June 8, 1977, respondent Julieta M. Ouano (Julieta), now deceased, obtained a loan from the Philippine National Bank (PNB)...