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DEVELOPMENT BANK OF THE PHILIPPINES, Petitioner, vs. TRAVERSE DEVELOPMENT CORPORATION and CENTRAL SURETY and INSURANCE COMPANY, Respondents.

Development Bank of the Philippines vs. Traverse Development Corporation, et al.

G.R. No. 169293 | 2011-10-05



Republic of the Philippines
SUPREME COURT
Manila


FIRST DIVISION


G.R. No. 169293               October 5, 2011


DEVELOPMENT BANK OF THE PHILIPPINES, Petitioner,

vs.

TRAVERSE DEVELOPMENT CORPORATION and CENTRAL SURETY and INSURANCE COMPANY, Respondents.


D E C I S I O N


LEONARDO-DE CASTRO, J.:


This is a petition for review on certiorari1 of the September 30, 2004 Decision2 and August 11, 2005 Resolution3 of the Court of Appeals in CA-G.R. CV No. 65311, which affirmed the November 24, 1998 Decision4 of the Regional Trial Court (RTC) of Quezon City, Branch 87, in Civil Case No. Q-37497, as modified by its February 1,...