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Philippine Commericial International Bank Vs. Sps. Wilson Dy Hong Pi and Lolita Dy and Sps Primo Chuyaco, Jr. and Chuyaco

PHILIPPINE COMMERCIAL INTERNATIONAL BANK, Petitioner, versus SPOUSES WILSON DY HONG PI and LOLITA DY and SPOUSES PRIMO CHUYACO,JR. and LILIA CHUYACO, Respondents.

G.R. No. 171137 | 2009-06-05

D E C I S I O N


PUNO, C.J.:


Before the Court is a petition for review on certiorari assailing the Decision[1] dated July 18, 2005 of the Court of Appeals in CA-G.R. SP. No. 85282, and its Resolution[2] dated January 10, 2006, denying petitioner's motion for reconsideration.

Spouses Damian and Tessie Amadeo are indebted to petitioner Philippine Commercial International Bank, a domestic uni-banking corporation, as sureties for Streamline Cotton Development Corporation. The promissory notes became due and demandable, but the Amadeo spouses failed to pay their outstanding obligations despite repeated demands. As of February 15, 1994,...