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Galvez and Guy vs. Court of Appeals and Asia United Bank

RAFAEL H. GALVEZ AND KATHERINE L. GUY, PETITIONERS, VS. HON. COURT OF APPEALS AND ASIA UNITED BANK, RESPONDENTS. / ASIA UNITED BANK, PETITIONER, VS. GILBERT G. GUY, PHILIP LEUNG, KATHERINE L. GUY, RAFAEL H. GALVEZ AND EUGENIO H. GALVEZ, JR., RESPONDENTS. [G.R. NO. 188030] GILBERT G. GUY, PHILIP LEUNG AND EUGENIO H. GALVEZ, JR., PETITIONERS, VS. ASIA UNITED BANK, RESPONDENT.

G.R. No. 187919 | 2012-04-25

SECOND DIVISION
D E C I S I O N
 
PEREZ, J.:
 
THE FACTS
 
In 1999, Radio Marine Network (Smartnet) Inc. (RMSI) claiming to do business under the name Smartnet Philippines[1] and/or Smartnet Philippines, Inc. (SPI),[2] applied for an Omnibus Credit Line for various credit facilities with Asia United Bank (AUB).  To induce AUB to extend the Omnibus Credit Line, RMSI, through its directors and officers, presented its Articles of Incorporation with its 400-peso million capitalization and its congressional telecom franchise.  RMSI was represented by the following officers and directors occupying the...