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LZK Holdings & Devt Corp vs. Planters Devt. Bank

LZK HOLDINGS AND DEVELOPMENT CORP., Petitioner, versus PLANTERS DEVELOPMENT BANK, Respondent.

G.R. No. 167998 | 2007-04-27

D E C I S I O N

QUISUMBING, J.:

Before us is a petition for review assailing the Decision[1] dated March 15, 2005 of the Court of Appeals in CA-G.R. SP No. 60944 and its Resolution[2] dated May 5, 2005 denying the motion for reconsideration. The appellate court had reversed the Order[3] dated May 11, 2000 of the Regional Trial Court (RTC) of San Fernando City, La Union, Branch 66 which held in abeyance the resolution of the ex parte petition for issuance of a writ of possession.

The antecedent facts in this case are as follows.

Petitioner LZK Holdings and Development Corporation (LZK) obtained a loan of P40,000,000 from respondent Planters...