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Asia Trust Development Bank vs. First Aikka Development Development, Inc. and Univac Development, Inc.

ASIATRUST DEVELOPMENT BANK, Petitioner,vs.FIRST AIKKA DEVELOPMENT, INC. and UNIVAC DEVELOPMENT, INC., Respondents.

G.R. No. 179558 | 2011-06-01


SECOND DIVISION


D E C I S I O N


NACHURA, J.:


This is a petition for review on certiorari under Rule 45 of the Rules of Court, assailing the Court of Appeals (CA) Decision [1] dated June 28, 2007 and Resolution [2] dated August 29, 2007 in CA-G.R. SP No. 97408.


The Facts


Respondents First Aikka Development, Inc. (FADI) and Univac Development, Inc. (UDI) are domestic corporations engaged in the construction and/or development of roads, bridges, infrastructure projects, subdivisions, housing, land, memorial parks, and other industrial and commercial projects for the government or any private entity or individual. [3]


In the...