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Cavite Development Bank vs. Spouses Lim 324 SCRA 346

CAVITE DEVELOPMENT BANK and FAR EAST BANK AND TRUST COMPANY, petitioners, vs. SPOUSES CYRUS LIM and LOLITA CHAN LIM and COURT OF APPEALS, respondents.

G.R. No. 131679 | 2000-02-01

D E C I S I O N

MENDOZA, J.:

This is a petition for review on certiorari of the decision1 [Per Justice B.A. Adefuin-de la Cruz and concurred in by Justice Fidel F. Purisima (now Associate Justice of the Supreme Court) and Justice Ricardo P. Galvez.] of the Court of Appeals in C.A. GR CV No. 42315 and the order dated December 9, 1997 denying petitioners' motion for reconsideration.

The following facts are not in dispute.

Petitioners Cavite Development Bank (CDB) and Far East Bank and Trust Company (FEBTC) are banking institutions duly organized and existing under Philippine laws. On or about June 15, 1983, a certain Rodolfo Guansing...