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Pilipinas Bank vs Alfredo T. Ong, et al

PILIPINAS BANK, petitioner, vs. ALFREDO T. ONG and LEONCIA LIM, respondents.

G.R. No. 133176 | 2002-08-08

D E C I S I O N

SANDOVAL-GUTIERREZ, J.:

Petition for review on certiorari[1] of the Resolutions[2] dated January 9, 1998 and March 25, 1998 of the Court of Appeals in CA-G.R. SP No. 42005, "Pilipinas Bank vs. The Honorable Secretary of Justice, the City Prosecutor of Makati City, Alfredo T. Ong and Leoncia Lim," reversing its Decision dated August 29, 1997.

On April 1991, Baliwag Mahogany Corporation (BMC), through its president, respondent Alfredo T. Ong, applied for a domestic commercial letter of credit with petitioner Pilipinas Bank (hereinafter referred to as the bank) to finance the purchase of about 100,000 board feet of "Air...