G.R. No. 115678
G.R. No. 115678
vs.
HON. COURT OF APPEALS and BERNARDINOVILLANUEVA,
respondents.
G.R. No. 115678 February 23, 2001
NATURE:
Consolidated petitions for review filed by Philippine Bank of
Communications against the Decisions of respondent Court of Appeals
seting aside and nullifying the Order of the Regional Trial Court of
Manila, Branch 7, granting the issuance of a writ of preliminary
attachment in Civil Case No. 91-56711.
FACTS:
Petitioner filed in 1991 a Complaint against private respondent
Bernardino Villanueva, Filipinas Textile Mills and one Sochi
Villanueva (now deceased) before the Regional Trial Court of Manila.
Petitioner sought the payment of P2,244,926.30 representing the
proceeds or value of various textile goods, the purchase of which was
covered by irrevocable letters of credit and trust receipts executed by
petitioner with private respondent Filipinas Textile Mills as obligor;
which, in turn, were covered by surety agreements executed by private
respondent Bernardino Villanueva and Sochi Villanueva. Private
respondents admitted the existence of the surety agreements and trust
receipts but countered that they had already made payments on the
amount demanded and that the interest and other charges imposed by
petitioner were onerous.
ISSUE :
HELD:
We find no merit in the instant petitions.