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CLARA REYES PASTOR and other Stockholders of C & C COMMERCIAL CORPORATION and C & C COMMERCIAL CORPORATION vs. PHILIPPINE NATIONAL BANK and NATIONAL INVESTMENT & DEVELOPMENT CORPORATION, respondents.

CLARA REYES PASTOR and other Stockholders of C & C COMMERCIAL CORPORATION and C & C COMMERCIAL CORPORATION, petitioners, vs. PHILIPPINE NATIONAL BANK and NATIONAL INVESTMENT & DEVELOPMENT CORPORATION, respondents.

G.R. No. 141316 | 2003-11-20

D E C I S I O N

TINGA, J.:

This is the third time that a controversy arising from Civil Case No. RQ-18176 has reached this Court. The first was C & C Commercial Corporation, et. al. v. Philippine National Bank, et. al, docketed as G.R. No. 42449,[1] while the second was Philippine National Bank and National Investment Development Corporation v. Court of Appeals, et.al., docketed as G.R. No. 108870.[2] Both cases form part of the factual backdrop of the present petition which is summarized below.

On various dates between the period February 27, 1957 and December 20, 1960, petitioner C&C Commercial Corporation[3] (hereafter, C & C) opened...