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Philippine National Bank Vs. Deang Marketing Corp, et al.

PHILIPPINE NATIONAL BANK, Petitioner,versus DEANG MARKETING CORPORATION and BERLITA DEANG,Respondents.

G.R. No. 177931 | 2008-12-08

D E C I S I O N


CARPIO MORALES, J.:

The Philippine National Bank (petitioner) assails the February 26, 2007 Decision[1] and the May 16, 2007 Resolution[2] of the Court of Appeals, which set aside the Orders of May 16, 2006 and August 9, 2006 of the Regional Trial Court (RTC) of Angeles City, Branch 57, and consequently declared petitioner in default.

Respondents Deang Marketing Corporation and Berlita Deang filed before the RTC of Angeles City a Complaint[3] against petitioner, docketed as Civil Case No. 12686, for reformation of contract and specific performance, claiming that a dacion en pago arrangement in the February 21, 2005...