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Union Bank of the Philippines vs. Development Bank of the Philippines

UNION BANK OF THE PHILIPPINES, Petitioner, vs. DEVELOPMENT BANK OF THE PHILIPPINES, Respondent.

G.R. No. 191555 | 2014-01-20

SECOND DIVISION
DECISION
 
PERLAS-BERNABE, J.:
 
Assailed in this petition for review on certiorari1 are the Decision2 dated November 3, 2009 and Resolution3 dated February 26, 2010 of the Court of Appeals (CA) in CA-G.R. SP No. 93833 which affirmed the Orders4 dated November 9, 2005 and January 30, 2006 of the Regional Trial Court of Makati, Branch 585 (RTC) in Civil Case No. 7648 denying the motion to affirm legal compensation6 filed by petitioner Union Bank of the  Philippines (Union Bank) against respondent Development Bank of the Philippines (DBP).
 
The Facts
 
Foodmasters, Inc. (FI) had outstanding loan obligations...