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Leonardo S. Umale (deceased), represented by Clarissa Victoria, et al. all surnamed Umale Vs. ASB Realty Corp.

LEONARDO S. UMALE, [deceased] represented by CLARISSA VICTORIA, JOHN LEO, GEORGE LEONARD, KRISTINE, MARGUERITA ISABEL, AND MICHELLE ANGELIQUE, ALL SURNAMED UMALE, Petitioners, vs. ASB REALTY CORPORATION, Respondent.

G.R. No. 181126 | 2011-06-15

FIRST DIVISION
 
D E C I S I O N
 
DEL CASTILLO, J.:
 
 
 
Being placed under corporate rehabilitation and having a receiver appointed to carry out the rehabilitation plan do not ipso facto deprive a corporation and its corporate officers of the power to recover its unlawfully detained property.
 
Petitioners filed this Petition for Review on Certiorari 1 assailing the October 15, 2007 Decision2 of the Court of Appeals (CA) in CA-G.R. SP No. 91096, as well as its January 2, 2008 Resolution.3  The dispositive portion of the assailed Decision reads:
 
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