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Coca-cola vs. Pacific Sugar

COCA-COLA FEMSA PHILIPPINES, INC., PETITIONER, VS. PACIFIC SUGAR HOLDINGS CORPORATION, RESPONDENT.

G.R. No. 24133 |

SECOND DIVISION

DECISION
 
LEONEN, SAJ.:
 
The manner upon which a writ of preliminary attachment may be discharged is prescribed in Rule 57, Sections 12 and 13 of the Rules of Court. The dissolution of a writ through a method outside of that prescribed by statute is an obstinate disregard of the rules of law and procedure and should not be allowed by the courts. By allowing the filing of a standby letter of credit instead of a counter-bond contemplated in Rule 57, Section 12, the trial court supplanted the law and sanctioned a remedy not contemplated therein.

This resolves a Petition for Review seeking the reversal of the Decision[1]...