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Eduardo L. Rayo Vs. Metropolitan Bank & Trust Co., et al

EDUARDO L. RAYO, Petitioner, versus METROPOLITAN BANK AND TRUST COMPANY AND BRANCH 223 OF THE REGIONAL TRIAL COURT OF QUEZON CITY, Respondents.

G.R. No. 165142 | 2007-12-10

DECISION


QUISUMBING, J.:

Before us is a petition for review assailing the Resolutions dated June 15, 2004[1] and August 23, 2004[2] of the Court of Appeals in CA-G.R. SP No. 83895 for annulment of judgment.

The pertinent facts are undisputed.

Midas Diversified Export Corp. (Midas), thru its president, Mr. Samuel U. Lee, obtained six (6) loans from private respondent Metropolitan Bank and Trust Company (Metrobank), amounting to P588,870,000 as evidenced by promissory notes. To secure the payment of an P8,000,000 loan, Louisville Realty & Development Corporation (Louisville), thru its president, Mr. Samuel U. Lee, executed in favor of...