Pinoy Law Student Buddy

Doña Adela Export International, Inc. v. Trade and Investment Development Corporation (TIDCORP), and the Bank of the Philippine Islands (BPI) G.R. No. 201931, February 11, 2015 Facts: Sometime in 2006, Doña Adela Export International, Inc., (DAEI) filed a Petition for Voluntary Insolvency. RTC issued an order declaring it insolvent and staying all civil proceedings against it. Sometime in August 2011 TIDCORP and BPI as creditors of DAEI filed a Joint Motion to Approve Agreement which contained among others a waiver of confidentiality clause wherein DAEI and the members of its Board of Directors shall waive all rights to confidentiality provided under the Law on Secrecy of Bank Deposits and The General Banking Law of 2000. The RTC approved the compromise agreement between BPI and TIDCORP. DAEI filed a motion for partial reconsideration and claimed that TIDCORP and BPI‘s agreement imposes on it several obligations such as payment of expenses and taxes and waiver of confidential...

Alexander Gaisano v. Benjamin Akol G.R. No. 193840, June 15, 2011 Facts: Akol filed a complaint for recovery of shares of stock against Gaisano. The RTC dismissed the complaint while the CA reversed the decision of the RTC. While the case was pending with the SC, the parties jointly filed an Agreement to Terminate Action duly signed by them and their respective counsels. Issue: Whether the agreement filed by the parties allows the court to validly render judgment based on said agreement. Ruling: Yes. A compromise agreement is a contract whereby the parties make reciprocal concessions, avoid litigation, or put an end to one already commenced. Its validity depends on its fulfillment of the requisites and principles of contracts dictated by law; its terms and conditions being not contrary to law, morals, good customs, public policy and public order. A scrutiny of the aforequoted agreement reveals it is a compromise agreement sanctioned under Article 2028 of the Civil Cod...

Adriatico Consortium, Inc. et al., v. Land Bank of the Philippines G.R. No. 187838, December 23, 2009 Facts: Respondent Land Bank approved the application of William Siy, the former president of ACI, for a credit line of P200M. A Mortgage Trust Indenture (MTI) was created to secure the loan. The MTI was amended to include J.V. Williams Realty and Development Corporation (JVWRDC), a majority-owned corporation of Siy, as borrower. It was later discovered that Siy did not remit ACI’s payments of the loan. Land Bank obliged petitioners ACI and PRC, with Benito Cu-Uy-Gam, ACI’s new president, to pay the maturing obligations of JVWRDC. Petitioners then filed a Petition for Declaration of Nullity, Specific Performance, Injunction, and Damages with Prayer for a TRO against Land Bank and Siy with the RTC of Manila. The parties entered into a Partial Compromise Agreement wherein ACI agreed, among others, to pay and actually paid to Land Bank the amount of loan plus interests. The said ...

National Commercial Bank of Saudi Arabia vs. Court of Appeals and Philippine Banking Corporation G.R. No. 124267, January 17, 2005 Facts: In its 2003 decision, the Supreme Court set aside the decision of the Court of Appeals and declared respondent Philippine Banking Corporation’s motion for reconsideration of the Regional Trial Court’s decision as pro forma due to lack of notice and hearing. Philippine Banking Corporation filed a motion for reconsideration of the said decision, and the Supreme Court by resolution gave due course to the motion, and since the subject controversy between Philippine Banking Corporation and petitioner National Bank of Saudi Arabia had long been pending in the courts for more than nineteen years, the Court ordered the trial court and the Court of Appeals to elevate all the records of the case so that a final resolution thereon could be rendered by the Supreme Court. After the parties have filed their respective memoranda, they decided to end the...