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Metropolitan Bank and Trust Company Vs. Sps. Elmor V. Bance and Rosario J. Bance

METROPOLITAN BANK AND TRUST COMPANY, Petitioner, versus SPS. ELMOR V. BANCE AND ROSARIO J. BANCE, Respondents.

G.R. No. 167280 | 2008-04-30

DECISION


QUISUMBING, J.:

Challenged in this petition for review are the Decision[1] and Resolution[2] dated October 29, 2004 and March 3, 2005, respectively, of the Court of Appeals in CA-G.R. SP No. 78162, which had annulled the Order[3] dated September 11, 2000 of the Regional Trial Court (RTC) of Manila, Branch 4, in LRC Cad. Record No. 278.

The antecedent facts, as culled from the records, are as follows:

Respondents Elmor and Rosario Bance obtained several loans in the amount of P24,150,954.84 from petitioner Metropolitan Bank and Trust Company, Tutuban Branch.[4] As security for the loans, respondents mortgaged their properties...