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Pryce Corporation Vs. China Banking Corporation

PRYCE CORPORATION, Petitioner, vs. CHINA BANKING CORPORATION, Respondent.

G.R. No. 172302 | 2014-02-18

EN BANC

RESOLUTION

LEONEN;J.:

This case resolves conflicting decisions between two divisions. Only one may serve as res judicata or a bar for the other to proceed. This case also settles the doctrine as to whether a hearing is needed prior to the issuance of a stay ~rder in corporate rehabilitation proceedings.

The present case originated from a petition for corporate rehabilitation filed by petitioner Pryce Corporation on July 9, 2004 with the Regional Trial Court of Makati, Branch 138.1

The rehabilitation court found the petition sufficient in form and substance and issued a stay order on July 13, 2004 appointing Gener T. Mendoza as...