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Golden Apple Realty & Development Corporation and Rosvibon Realty Corporation Vs. Sierra Grande Realty Corporation, Manphil Investment Corporation, Renan V. Santos and Patricio Mamaril

GOLDEN APPLE REALTY AND DEVELOPMENT CORPORATION AND ROSVIBON REALTY CORPORATION, Petitioners, VERSUS SIERRA GRANDE REALTY CORPORATION, MANPHIL INVESTMENT CORPEOPLERATION, RENEN V. SANTOS AND PATRICIO MAMARIL, Respondents.

G.R. No. 119857 | 2010-07-28

DECISION


PERALTA, J.:

This is a petition for review[1] on certiorari under Rule 45 of the Rules of Court seeking to nullify and set aside the Decision[2] of the Court of Appeals (CA) dated January 23, 1995 and the Resolution[3] dated March 28, 1995 in CA-G.R. CV No. 40961.

The antecedent facts are the following:

On December 1, 1981, Hayari Trading Corporation (Hayari), through a Loan Agreement,[4] borrowed from Manphil Investment Corporation (Manphil) the amount of Two Million Five Hundred Thousand Pesos (P2,500,000.00) for the benefit of Filipinas Textile Mills, Inc. (Filtex).

On the same date, Hayari President Yu Han Yat, Jr., his...