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Sps Eliseo Malolos & Virginia Malolos vs Aida Dy assignee of Marietta Valenzuela

SPOUSES ELISEO MALOLOS and VIRGINIA C. MALOLOS, petitioners, vs. AIDA S. DY, in her capacity as Assignee of MARIETTA M. VALENZUELA, respondent.

G.R. No. 132555 | 2000-02-17

D E C I S I O N

KAPUNAN, J.:

The facts of this case are undisputed. Petitioners adopt the following narration of the antecedent proceedings by the Court of Appeals:

On November 28, 1994, a petition for involuntary insolvency was filed by several creditors of Marieta M. Valenzuela with the Regional Trial Court (RTC) of Pasig, Branch 160, and docketed therein as Special Proceedings No. 10470. On February 28, 1995, the RTC of Pasig issued an order in said case which inter alia declared Marieta Valenzuela insolvent and directed that:

"Meanwhile, all civil proceedings pending against the insolvent are hereby stayed."

The herein petitioner...