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Traverse Development Corp vs DBP

TRAVERSE DEVELOPMENT CORPORATION, Petitioner, versus DEVELOPMENT BANK OF THE PHILIPPINES, Respondent.

G.R. No. 150888 | 2004-09-24

DECISION


CALLEJO, SR., J.:

Before us is a petition for review on certiorari assailing the Decision[1] of the Court of Appeals dismissing the petitioner's appeal in CA-G.R. CV No. 43157 for lack of jurisdiction and the Resolution denying the motion for reconsideration thereof.

On July 21, 1980, the respondent, Development Bank of the Philippines (DBP), granted a loan of P910,000.00 to the petitioner, Traverse

Development Corporation, for the construction of a three-storey commercial building on its property located in Tarlac (now Tarlac City), with an area of 698 square meters covered by TCT No. 154736. The loan was payable in fifteen...