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Philippine National Bank Vs. Gotesco Tyan Ming Development, Inc.

PHILIPPINE NATIONAL BANK, Petitioner, versus GOTESCO TYAN MING DEVELOPMENT, INC., Respondent.

G.R. No. 183211 | 2009-06-05

DECISION


NACHURA, J.:

This petition for review filed by Philippine National Bank (PNB) seeks to nullify and set aside the March 12, 2008 Decision[1] of the Court of Appeals (CA) in CA-G.R. SP No. 99194, which affirmed the Orders dated August 24, 2006[2] and March 2, 2007[3] of the Regional Trial Court (RTC) of Pasig City, and the June 6, 2008 Resolution,[4] denying PNB's motion for reconsideration.

The antecedents.

On April 7, 1995, PNB, along with Metropolitan Bank and Trust Company (MBTC), United Coconut Planters Bank (UCB), and Citytrust Banking Corporation (CBC), extended credit facilities worth P800,000,000.00 to respondent...