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Searth Commodities Corporation, Et Al. Vs. Court Of Appeals, Et Al.

SEARTH COMMODITIES CORPORATION, ARACELI CAMACHO, PROSPERO CASTRO and MANUEL TARROJA, petitioners, vs. COURT OF APPEALS and DEVELOPMENT BANK OF THE PHILIPPINES, respondents.

G.R. No. 64220 | 1992-03-31

D E C I S I O N


GUTIERREZ, JR., J.:

This petition for review seeks to set aside the resolutions dated April 13, 1983 and May 23, 1983 promulgated by the respondent Court of Appeals which upheld the trial court's denial of the petitioners' prayer for the issuance of a preliminary injunction in Civil Case No. 39128.

On May 17, 1972, petitioner Searth Commodities, Inc. (Searth) borrowed from respondent Development Bank of the Philippines (DBP) the amount of Three Hundred Seventy Thousand Pesos (P370,000) to finance the former's hybrid tomato plantation in Tubao, La Union.

As security for the loan, Searth gave the following collateral:

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