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BDC vs. The Twenty-First

BUTUAN DEVELOPMENT CORPORATION (BDC), PETITIONER, VS. THE TWENTY-FIRST DIVISION OF THE HONORABLE COURT OF APPEALS (MINDANAO STATION), MAX ARRIOLA, JR., DE ORO RESOURCES, INC. (DORI) AND LOUIE A. LIBARIOS, RESPONDENTS

G.R. No. 197358 | 2017-04-05

THIRD DIVISION
 
DECISION
 
REYES, J.:
 
This is a petition for certiorari[1] under Rule 65 of the Rules of Court seeking to annul and set aside the Decision[2]dated January 14, 2011 and Resolution[3] dated May 24, 2011 issued by the Court of Appeals (CA) in CA-G.R. SP No. 01473.
 
The Facts

On March 31, 1966, Butuan Development Corporation (BDC), which was then still in the process of incorporation, through its then President Edmundo Satorre (Satorre), purchased from the Spouses Jose and Socorro Sering (Spouses Sering) a 7.6923-hectare parcel of land situated in Butuan City (subject property).[4] Thus, on...