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Planters Development Bank vs. Spouses Ramos

PLANTERS DEVELOPMENT BANK, PETITIONER, VS. SPOUSES VICTORIANO AND MELANIE RAMOS, RESPONDENTS.

G.R. No. 228617 | 2017-09-20

DECISION
 
REYES, JR., J:
 
Before the Court is a Petition for Review on Certiorari under Rule 45 of the Rules of Court, assailing the Decision[1] dated July 5, 2016 and Resolution[2] dated December 7, 2016 of the Court of Appeals (CA) in CA-G.R. SP No. 140264.
 
Antecedent Facts

The facts show that in July 2012, Spouses Victoriano and Melanie Ramos (Spouses Ramos) applied for several credit lines with Planters Development Bank (PDB) for the construction of a warehouse in Barangay Santo Tomas, Nueva Ecija.[3] The said application was approved for P40,000,000.00, secured by Real Estate Mortgage[4] dated July 25, 2012 over properties...