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Megan Sugar Corporation vs. RTC of Iloilo

MEGAN SUGAR CORPORATION, Petitioner,vs.REGIONAL TRIAL COURT of ILOILO, Branch 68, Dumangas, Iloilo; New Frontier Sugar Corporation and EQUITABLE PCI BANK, Respondents.

G.R. No. 170352 | 2011-06-01

SECOND DIVISION
D E C I S I O N
 
PERALTA, J.:
 
 
Before this Court is a petition for review on certiorari, [1] under Rule 45 of the Rules of Court, seeking to set aside the August 23, 2004 Decision [2] and October 12, 2005 Resolution [3] of the Court of Appeals (CA), in CA-G.R. SP No. 75789.
 
 
The facts of the case are as follows:
 
 
On July 23, 1993, respondent New Frontier Sugar Corporation (NFSC) obtained a loan from respondent Equitable PCI Bank (EPCIB). Said loan was secured by a real estate mortgage over NFSC's land consisting of ninety-two (92) hectares located in Passi...