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Panay Railways Inc. vs. Heva Management and Development Corporation, et al.

PANAY RAILWAYS INC., Petitioner, vs.HEVA MANAGEMENT and DEVELOPMENT CORPORATION, PAMPLONA AGRO-INDUSTRIAL CORPORATION, and SPOUSES CANDELARIA DAYOT and EDMUNDO DAYOT, Respondents.

G.R. No. 154061 | 2012-01-25

SECOND DIVISION
 
D E C I S I O N

SERENO, J.:
 
The present Petition stems from the dismissal by the Regional Trial Court (RTC) of Iloilo City of a Notice of Appeal for petitioner's failure to pay the corresponding docket fees.
 
The facts are as follows:
 
On 20 April 1982, petitioner Panay Railways Inc., a government-owned and controlled corporation, executed a Real Estate Mortgage Contract covering several parcels of lands, including Lot No. 6153, in favor of Traders Royal Bank (TRB) to secure P 20 million worth of loan and credit accommodations. Petitioner excluded certain portions of Lot No. 6153: that already sold to...