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Philippine Commercial International Bank (PCIB) vs Balmaceda and Ramos

PHILIPPINE COMMERCIAL INTERNATIONAL BANK, PETITIONER, VS. ANTONIO B. BALMACEDA AND ROLANDO N. RAMOS, RESPONDENTS.

G.R. No. 158143 | 2011-09-21

SECOND DIVISION
D E C I S I O N
 
BRION, J.:
 
Before us is a petition for review on certiorari,[1] filed by the Philippine Commercial International Bank[2] (Bank orPCIB), to reverse and set aside the decision[3] dated April 29, 2003 of the Court of Appeals (CA) in CA-G.R. CV No. 69955. The CA overturned the September 22, 2000 decision of the Regional Trial Court (RTC) of Makati City, Branch 148, in Civil Case No. 93-3181, which held respondent Rolando Ramos liable to PCIB for the amount of P895,000.00.

FACTUAL ANTECEDENTS

On September 10, 1993, PCIB filed an action for recovery of sum of money with damages before the RTC against...