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DBP vs. Pundogar [DECISION]

DEVELOPMENT BANK OF THE PHILIPPINES, NATIONAL DEVELOPMENT COMPANY and NATIONAL STEEL CORPORATION, petitioners, vs. JUDGE AMIR PUNDOGAR, in his capacity as Presiding Judge of the Regional Trial Court of Iligan City, 12th Judicial Region, Branch III, FERNANDO JACINTO, JACINTO STEEL, INC., and ILIGAN INTEGRATED STEEL MILLS, INC., respondents.

G.R. No. 96921 | 1993-01-29

D E C I S I O N
 
ROMERO, J.:
 
Behind the innocuous title of the case is the unraveling of a tale of the government's dashed hopes of taking off for an industrial economy through the setting up of an integrated steel plant that it supported in the sixties through gargantuan investments therein; of how the said enterprise floundered after repeatedly defaulting in its obligations leading to the inevitable foreclosure of its assets; of how it laid low for fourteen years spanning the martial law regime only to resurface now to claim what it vigorously insists is its own; and how the government, through the highest reaches of...