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DBP vs WNCI

Development Bank of the Philippines, petitioner, vs. West Negros College, Inc., respondent.

G.R. No. 152359 | 2004-05-21

R E S O L U T I O N




Tinga, J.:

For resolution is the Motion for Reconsideration[1] dated November 26, 2002 filed by West Negros College, Inc. (West Negros) assailing the Court's Decision[2] dated October 28, 2002.

Briefly, the facts are as follows:[3]

On December 12, 1967, Bacolod Medical Center (BMC) obtained a loan from the Development Bank of the Philippines (DBP) in the amount of P2,400,000.00 secured by a mortgage on two (2) parcels of land, namely: Lots Nos. 1397-A and 1397-B-1 covered by Transfer Certificates of Title (TCT) Nos. T-25053 and T-29169, respectively. The mortgage was expressly constituted subject to the...