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Development Bank of the Philippines Vs. Ben P. medrano and Privatization Management Office

DEVELOPMENT BANK OF THE PHILIPPINES, Petitioner, vs. BEN P. MEDRANO and PRIVATIZATION MANAGEMENT OFFICE [PMO], Respondents.

G.R. No. 167004 | 2011-02-07



THIRD DIVISION

D E C I S I O N


VILLARAMA, JR., J.:

This petition for review on certiorari assails the Decision1 dated December 14, 2004 and Resolution2 dated February 8, 2005 of the Court of Appeals (CA) in CA-G.R. CV No. 65436. The CA affirmed in toto the Decision3dated January 26, 1999 of the Regional Trial Court (RTC) of Pasig City, Branch 158, ordering petitioner Development Bank of the Philippines (DBP) to pay respondent Ben Medrano the following: (1) the amount ofP2,449,265.00 representing the value of the purchase price of Medrano’s 37,681 shares in Paragon Paper Industries, Inc. plus legal interest from date of first...