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Pameca Wood Treatment Plant, Inc., et al. vs Court

PAMECA WOOD TREATMENT PLANT, INC., HERMINIO G. TEVES, VICTORIA V. TEVES and HIRAM DIDAY R. PULIDO, petitioners, vs. HON. COURT OF APPEALS and DEVELOPMENT BANK OF THE PHILIPPINES, respondents.

G.R. No. 106435 | 1999-07-14

D E C I S I O N


GONZAGA-REYES, J.:

Before Us for review on certiorari is the decision of the respondent Court of Appeals in CA G.R. CV No. 27861, promulgated on April 23, 1992,1 [Penned by Justice Lorna S. Lombos-dela Fuente, with the concurrence of Justices Salome A. Montoya and Quirino D. Abad-Santos, Jr.] affirming in toto the decision of the Regional Trial Court of Makati2 [Civil Case No. 7734, Branch 132, presided over by Judge Herminio I. Benito.] to award respondent bank's deficiency claim, arising from a loan secured by chattel mortgage.

The antecedents of the case are as follows:

On April 17, 1980, petitioner PAMECA Wood...