Back

Allied Banking Corp. vs. CA, et al

ALLIED BANKING CORPORATION, Petitioner, versus COURT OF APPEALS, G.G. SPORTSWEAR MANUFACTURING CORPORATION, NARI GIDWANI, SPOUSES LETICIA AND LEON DE VILLA AND ALCRON INTERNATIONAL LTD., Respondents.

G.R. No. 125851 | 2006-07-11

THIRD DIVISION

DECISION 

QUISUMBING, J.: 

This petition for review on certiorari assails (a) the July 31, 1996 Decision[1] of the Court of Appeals, ordering respondent G.G. Sportswear Manufacturing Corp. to reimburse petitioner US $20,085; and exonerating the guarantors from liability; and (b) the January 17, 1997 Resolution[2] denying the motion for reconsideration. 

The facts are undisputed. 

On January 6, 1981, petitioner Allied Bank, Manila (ALLIED) purchased Export Bill No. BDO-81-002 in the amount of US $20,085.00 from respondent G.G. Sportswear Mfg. Corporation (GGS). The bill, drawn under a letter of credit No....