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Allied Banking Corp. Vs. South Pacific Sugar Corp

ALLIED BANKING CORPORATION, Petitioner, versus SOUTH PACIFIC SUGAR CORPORATION, MARGARITA CHUA SIA, AGOSTO SIA, LIN FAR CHUA, GERRY CHUA, SIU DY CHUA, and ANTONIO CHUA, Respondents.

G.R. No. 163692 | 2008-02-04

DECISION


QUISUMBING, J.:

The instant petition assails the Decision[1] dated February 3, 2004 and the Resolution[2] dated May 13, 2004 of the Court of Appeals in CA-G.R. SP No. 68619. The appellate court had found no grave abuse of discretion on the part of the Regional Trial Court (RTC) of Makati City, Branch 148, in discharging the writ of preliminary attachment it previously granted, and dismissed the petition for certiorari. The motion for reconsideration was denied.

The factual antecedents of this case are as follows:

South Pacific Sugar Corporation (South Pacific), on March 23, 1999, issued three promissory notes totaling...