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Maunlad Homes, Inc. et al. Vs. Union Bank of the Phils., et al.

MAUNLAD HOMES, INC., N.C. PULUMBARIT INC., N.C.P. LEASING CORPORATION, and NEMENCIO C. PULUMBARIT, SR., Petitioners, versus UNION BANK OF THE PHILIPPINES and JULIE C. GO, Respondents.

G.R. No. 179898 | 2008-12-23

D E C I S I O N


REYES, R.T., J.:

WE sustain the Regional Trial Court (RTC) grant of preliminary injunction in this petition for review on certiorari of the Decision[1] of the Court of Appeals (CA) nullifying the RTC order in Civil Case No. 297-M-04.


The Facts

The subject matter of the case are several parcels of land forming the commercial complex known as Maunlad Malls 1 and 2 located in Malolos, Bulacan. The properties were previously owned and mortgaged by petitioners to respondents. They were foreclosed by respondents.[2]

Before consolidation of ownership, respondents, as seller, and petitioners, as buyer, entered into a...