Back

Rural Bank of Sta Catalina vs LBP

RURAL BANK OF STA. CATALINA, INC., represented by The Philippine Deposit Insurance Corporation, in its capacity as Liquidator, Petitioner, versus LAND BANK OF THE PHILIPPINES, Respondent.

G.R. No. 148019 | 2004-07-26

DECISION





CALLEJO, SR., J.:







Before us is a petition for review on certiorari of the Decision[1] of the Court of Appeals in CA-G.R. CV No. 62511 affirming the Decision[2] of the Regional Trial Court of Vigan, Ilocos Sur, Branch 20 in Civil Case No. 4786-V.





On September 11, 1996, the respondent, Land Bank of the Philippines, filed a complaint against the petitioner, Sta. Catalina Rural Bank, Inc., in the Regional Trial Court of Vigan, Ilocos Sur, Branch 20, for the collection of the sum of P2,809,280.25, capitalized and accrued interests, penalties and surcharges, and for such other equitable reliefs. On motion of the...