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Sps Jeanette Maliwat & Rufino Maliwat vs. Metropolitan Bank & Trust Co.

SPOUSES JEANETTE MALIWAT and RUFINO MALIWAT, Petitioners, versus METROPOLITAN BANK & TRUST COMPANY, Respondent.

G.R. No. 165971 | 2007-09-03

R E S O L U T I O N
 


SANDOVAL-GUTIERREZ, J.:

For our resolution is the instant Petition for Review on Certiorari under Rule 45 of the 1997 Rules of Civil Procedure, as amended, seeking to reverse the Decision[1] of the Court of Appeals (Fourteenth Division) dated March 22, 2004 in CA-G.R. SP No. 77344.

The facts of the case as found by the Court of Appeals are:

Spouses Rufino and Jeanette Maliwat, petitioners, obtained a loan from the Metropolitan Bank & Trust Company, respondent, in the amount of P23,850,000.00 as evidenced by a promissory note dated August 13, 1997.

To secure the loan, petitioners executed three (3) real estate...