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DBP vs. NMC, et al

DEVELOPMENT BANK OF THE PHILIPPINES, plaintiff-appellant, vs. NATIONAL MERCHANDISING CORPORATION, ET AL., defendants-appellees, FELIX DUMARAN, ET AL., intervenors-appellants.

G.R. Nos. L-22957 & L-23737 | 1971-08-31

D E C I S I O N


DIZON, J:

On February 27, 1963, the Development Bank of the Philippines, successor of the now defunct Rehabilitation Finance Corporation, both to be referred to hereinafter as the Bank, filed an action in the Court of First Instance of Manila against the National Merchandising Corporation (likewise referred to hereinafter as NAMERCO), John, Paul and Alfonso, all surnamed Sycip, to recover the total sum of P554,632.61, plus interest thereon at 6% per annum from December 5, 1962 up to the date of payment, plus reasonable attorney's fees and costs of suit. The principal amount sought to be recovered was the unpaid balance...