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China Banking Corporation Vs. QBRO Fishing Enterprises, Inc.

CHINA BANKING CORPORATION, Petitioner, versus QBRO FISHING ENTERPRISES, INC., Respondent

G.R. No. 184556 | 2012-02-22

FIRST DIVISION
D E C I S I O N
 
VILLARAMA, JR., J.:

Petitioner China Banking Corporation appeals the June 27, 2008 Decision[1] and September 5, 2008 Resolution[2] of the Court of Appeals (CA) in CA-G.R. CV No. 00226 which set aside the Decision[3] of the Regional Trial Court (RTC) of General Santos City in Civil Case No. 6665.

The facts follow:

In 1994, Trans-Filipinas Realty Corporation (TFRC) obtained a loan from petitioner China Banking Corporation in the amount of Seven Million Pesos (P7,000,000).  The loan was secured by a real estate mortgage over two parcels of land covered by Transfer Certificate of Title (TCT) Nos. T-34226...