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Siain Enterprises, Inc. Vs. Cupertino Realty Corp. and Edwin R. Catacutan

SIAIN ENTERPRISES, INC., Petitioner, versus CUPERTINO REALTY CORP. and EDWIN R. CATACUTAN, Respondents.

G.R. No. 170782 | 2009-06-22

DECISION


NACHURA, J.:

Before us is a petition for review on certiorari under Rule 45 of the Rules of Court assailing the decision of the Court of Appeals in CA-G.R. CV No. 71424[1] which affirmed the decision of the Regional Trial Court, Branch 29, Iloilo City in Civil Case No. 23244.[2]

On April 10, 1995, petitioner Siain Enterprises, Inc. obtained a loan of P37,000,000.00 from respondent Cupertino Realty Corporation (Cupertino) covered by a promissory note signed by both petitioner's and Cupertino's respective presidents, Cua Le Leng and Wilfredo Lua. The promissory note authorizes Cupertino, as the creditor, to place in escrow the...