Back

PANAY RAILWAYS INC., PETITIONER, VS. HEVA MANAGEMENT AND DEVELOPMENT CORPORATION, et al., RESPONDENTS.

PANAY RAILWAYS INC., PETITIONER, VS. HEVA MANAGEMENT AND DEVELOPMENT CORPORATION, PAMPLONA AGRO-INDUSTRIAL CORPORATION, AND SPOUSES CANDELARIA DAYOT AND EDMUNDO DAYOT, RESPONDENTS.

G. R. No. 154061 | 2012-01-25

SECOND DIVISION
 
D E C I S I O N

SERENO, J.:

The present Petition stems from the dismissal by the Regional Trial Court (RTC) of Iloilo City of a Notice of Appeal for petitioner's failure to pay the corresponding docket fees.
 
The facts are as follows:
 
On 20 April 1982, petitioner Panay Railways Inc., a government-owned and controlled corporation, executed a Real Estate Mortgage Contract covering several parcels of lands, including Lot No. 6153, in favor of Traders Royal Bank (TRB) to secure P20 million worth of loan and credit accommodations. Petitioner excluded certain portions of Lot No. 6153: that already sold to Shell...