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Spouses Alfredo and Susano Ong Ong vs PCI Bank

SPOUSES ALFREDO and SUSANA ONG, Petitioners, versus PHILIPPINE COMMERCIAL INTERNATIONAL BANK, Respondent.

G.R. No. 160466 | 2005-01-17

 
 
SECOND DIVISION
DECISION
 
PUNO, J.:
 
This is a petition for review on certiorari under Rule 45 of the Rules of Court to set aside the Decision of the Court of Appeals in CA-G.R. SP No. 39255, dated February 17, 2003, affirming the decision of the trial court denying petitioners’ motion to dismiss.
 
The facts:  Baliwag Mahogany Corporation (BMC) is a domestic corporation engaged in the manufacture and export of finished wood products. Petitioners-spouses Alfredo and Susana Ong are its President and Treasurer, respectively.
 
On April 20, 1992, respondent Philippine Commercial International Bank (now...