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Sps. Esmeraldo & Elizabeth Suico vs. PNB, et al

SPS. ESMERALDO and ELIZABETH SUICO, Petitioners, versus PHILIPPINE NATIONAL BANK and HON. COURT OF APPEALS, Respondents.

G.R. No. 170215 | 2007-08-28

                                            D E C I S I O N


CHICO-NAZARIO, J.:


Herein petitioners, Spouses Esmeraldo and Elizabeth Suico, obtained a loan from the Philippine National Bank (PNB) secured by a real estate mortgage[1] on real properties in the name of the former. The petitioners were unable to pay their obligation prompting the PNB to extrajudicially foreclose the mortgage over the subject properties before the City Sheriff of Mandaue City under EJF Case No. 92-5-15.

The petitioners thereafter filed a Complaint against...