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UPSUMCO vs. Court of Appeals [SEPARATE OPINION, DISSENTING, TINGA, J.]

UNITED PLANTERS SUGAR MILLING CO., INC. (UPSUMCO), Petitioner, Chairperson, versus THE HONORABLE COURT OF APPEALS, PHILIPPINE NATIONAL BANK (PNB), and ASSET PRIVATIZATION TRUST (APT), as TRUSTEE OF THE REPUBLIC OF THE PHILIPPINES, Respondents.

G.R. No. 126890 | 2007-07-11

DISSENTING OPINION

Tinga, J.:

I respectfully dissent from the denial of the instant Motion for Reconsideration of the Decision dated 28 November 2006.[1] It should be reconsidered and the decision of the Court of Appeals dated 29 February 1996 reinstated, for the following reasons: (1) contrary to a ruling in the Decision, the condonation effected between APT and United Planters extended only insofar as the loan agreement dated November 5, 1974 and the Restructuring Agreements dated 24 June and 10 December 1982, and 9 May 1984; and (2) there is no basis in law or fact to hold respondents Assets and Privatization Trust (APT) and...