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Supreme Transliner, Inc., Moises C. Alvarez vs. BPI Family Savings Bank, Inc. / BPI Family Savings Bank, Inc. vs. Supreme Transliner Inc., Moises C. Alvarez and Paulita S. Alvares

SUPREME TRANSLINER, INC., MOISES C. ALVAREZ and PAULITA S. ALVAREZ, Petitioners, vs. BPI FAMILY SAVINGS BANK, INC., Respondent. ------------------------------------------------------------------------------------- BPI FAMILY SAVINGS BANK, INC., Petitioner, vs. SUPREME TRANSLINER, INC., MOISES C. ALVAREZ and PAULITA S. ALVAREZ, Respondents.

G.R. No. 165617 / G.R. No. 165837 | 2011-02-25




THIRD DIVISION
D E C I S I O N

VILLARAMA, JR., J.:

This case involves the question of the correct redemption price payable to a mortgagee bank as purchaser of the property in a foreclosure sale.

On April 24, 1995, Supreme Transliner, Inc. represented by its Managing Director, Moises C. Alvarez, and Paulita S. Alvarez, obtained a loan in the amount of P9,853,000.00 from BPI Family Savings Bank with a 714-square meter lot covered by Transfer Certificate of Title No. T-79193 in the name of Moises C. Alvarez and Paulita S. Alvarez, as collateral.1

For non-payment of the loan, the mortgage was extrajudicially foreclosed and the property was sold to...