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Erma Industries Inc. vs. Security Bank Corp.

ERMA INDUSTRIES, INC., ERNESTO B. MARCELO AND FLERIDA O. MARCELO, PETITIONERS, VS. SECURITY BANK CORPORATION AND SERGIO ORTIZ-LUIS, JR., RESPONDENTS.

G.R. No. 191274 | 2017-12-06

DECISION
 
LEONEN, J.:
 
This Petition for Review[1] is an appeal from the Court of Appeals: (1) Decision[2] dated June 17, 2009, which affirmed in toto the Decision[3] dated May 31, 2004 of Branch 64, Regional Trial Court, Makati City; and (2) Resolution[4] dated February 3, 2010, which denied petitioners' motion for reconsideration.

On May 5, 1992, Erma Industries, Inc. (Erma) obtained from Security Bank Corporation (Security Bank) a credit facility, the conditions for which are embodied in the Credit Agreement[5] executed between the parties.[6]

On the same date, a Continuing Suretyship[7]...