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Gateway Electronics Corp vs Land Bank of the Phils

GATEWAY ELECTRONICS CORPORATION, petitioner, vs. LAND BANK OF THE PHILIPPINES, respondent.

G.R. Nos. 155217 & 156393 | 2003-07-30

D E C I S I O N

YNARES-SANTIAGO, J.:

Before the Court are consolidated petitions (1) for review of the decision of the Court of Appeals in CA-G.R. SP No. 62658,[1] which set aside the Order dated October 18, 2000 of the Regional Trial Court of Makati City, Branch 133, in Civil Case No. 98-782;[2] and (2) to cite Landbank President Margarito Teves, and Landbank's counsel, in contempt of Court.

The undisputed facts are as follows: In 1995, petitioner Gateway Electronics Corporation applied for a loan in the amount of one billion pesos with respondent Landbank to finance the construction and acquisition of machineries and equipment for a...