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Development Bank of the Philippines Vs. Gregorio Capulong

DEVELOPMENT BANK OF THE PHILIPPINES, Petitioner, versus GREGORIO CAPULONG, Respondent.

G.R. No. 181790 | 2009-01-30

DECISION


NACHURA, J.:

This is a petition[1] for review on certiorari under Rule 45 of the Rules of Court seeking the reversal of the Decision[2] dated September 18, 2007 and the Resolution[3] dated February 15, 2008 of the Court of Appeals (CA) in CA-G.R. SP No. 90338.

On January 28, 1983, petitioner Development Bank of the Philippines (DBP) granted a loan to Asialand Development Corporation (ADC) in the amount of P16,000,000.00 for the purpose of real estate development. To secure the loan, a mortgage was constituted on the project site and all improvements thereon consisting of 378,226 square meters then covered by ten (10) mother...