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Union Bank of the Philippines vs. Alain Juniat, et al.

UNION BANK OF THE PHILIPPINES, vs.ALAIN* JUNIAT, WINWOOD APPAREL, INC., WINGYAN APPAREL, INC., NONWOVEN FABRIC PHILIPPINES, Respondents.

G.R. No. 171569 | 2011-08-01

FIRST DIVISION
D E C I S I O N

DEL CASTILLO, J.:

To have a binding effect on third parties, a contract of pledge must appear in a public instrument.1

This Petition for Review on Certiorari2 under Rule 45 of the Rules of Court assails the June 23, 2005 Decision3 and the February 9, 2006 Resolution4 of the Court of Appeals (CA) in CA-G.R. CV No. 66392.

Factual Antecedents

Petitioner Union Bank of the Philippines (Union Bank) is a universal banking corporation organized and existing under Philippine laws.5

Respondents Winwood Apparel, Inc. (Winwood) and Wingyan Apparel, Inc. (Wingyan) are domestic corporations engaged in the business of apparel...