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Solid Builders, Inc. and Medinaj Foods Industries, Inc. Vs. China Banking Corporation

SOLID BUILDERS, INC. and MEDINA FOODS INDUSTRIES, INC., Petitioners, vs. CHINA BANKING CORPORATION, Respondent.

G.R. No. 179665 | 2013-04-03

FIRST DIVISION 

D E C I S I O N 

LEONARDO-DE CASTRO, J.:

This petition for review on certiorari1 assails the Decision2 dated April 16, 2007 and the Resolution3 dated September 18, 2007 of the Court of Appeals in CA-G.R. SP No. 81968. 

During the period from September 4, 1992 to March 27, 1996, China Banking Corporation (CBC) granted several loans to Solid Builders, Inc. (SBI), which amounted to P139,999,234.34, exclusive of interests and other charges. To secure the loans, Medina Foods Industries, Inc. (MFII) executed in CBC’s favor several surety agreements and contracts of real...