Back

China Banking Corp vs Sps Oscar and Lolita Ordinario

CHINA BANKING CORPORATION, petitioner, vs. SPOUSES OSCAR and LOLITA ORDINARIO, respondents.

G.R. No. 121943 | 2003-03-24

D E C I S I O N

SANDOVAL-GUTIERREZ, J.:

For our resolution is the petition for review on certiorari of the Decision and Resolution of the Court of Appeals in CA-G.R. CV No. 40953 dated March 20, 1995 and September 6, 1995, respectively.[1]

Records show that, on various dates, petitioner China Banking Corporation granted three (3) loans in the total sum of P27,353,000.00 to TransAmerican Sales and Exposition, Inc. (TransAmerican) owned and controlled by spouses Jesus and Lorelie Garcia. The loans were secured by real estate mortgages constituted by Jesus Garcia (with the consent of his wife) on his forty-five (45) parcels of land covered...