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LZK Holdings and Development Corporation Vs. Planters Development Bank

LZK HOLDINGS and DEVELOPMENT CORPORATION, Petitioner, vs. PLANTERS DEVELOPMENT BANK, Respondent.

G.R. No. 187973 | 2014-01-20

FIRST DIVISION

RESOLUTION

REYES, J.: 

This resolves the appeal filed by petitioner LZK Holdings and Development Corporation (LZK Holdings) assailing the Decision 1 dated January 27, 2009 of the Court of Appeals (CA) in CA-G.R. S.P. No. 103267 affirming the Order2 dated April 8, 2008 of the Regional Trial Court (RTC) of San Fernando City (San Fernando), La Union, Branch 66, which issued a writ of possession in favor of respondent Planters Development Bank (Planters Bank).

The facts are not disputed.

LZK Holdings obtained a P40,000,000.00 loan from Planters Bank on December 16, 1996 and secured the same with a Real Estate Mortgage...