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Land Bank of the Phil. Vs. Planters Devt. Bank

LAND BANK OF THE PHILIPPINES, Petitioner, versus PLANTERS DEVELOPMENT BANK, Respondent

G.R. No. 160395 | 2008-05-07

R E S O L U T I O N


CARPIO, J.:

The Case

Before the Court is a petition for review[1] assailing the Resolutions promulgated on 28 March 2003[2] and 13 October 2003[3] of the Court of Appeals in CA-G.R. CV No. 74913.

The Antecedent Facts

Planters Development Bank (respondent) acquired from foreclosure proceedings two parcels of land located in Salaza, Palauig, Zambales. The two parcels of land, with an area of 23.7886 hectares and 32.5234 hectares, respectively, are covered by Transfer Certificate of Title (TCT) No. T-28061 (now TCT No. T-38758) and No. T-28064 (now TCT No. T-38760), respectively.

In 1991, the Department of...