BR Sebastian Enerprises Inc. v. CA
THIRD DIVISION
[G.R. No. 126620. April 17, 2002]
PRODUCERS BANK OF THE PHILIPPINES, petitioner, vs. HONORABLE COURT OF APPEALS, ASIA TRUST DEVELOPMENT BANK, RAINELDA A. ANDREWS, SAMSON FLORES, ALFONSO LEONG, JR., RHODORA D. LANDRITO, JOSEPH CHUA, RAMON YU, EDUARDO G. ESCOBAR, MILAGROS B. NAYVE, ELIZABETH C. GARCIA, ALBERTO LIMJOCO, SR., GLORIA E. MENPIN and ESPERANZA FLORENDO, respondents.
D E C I S I O N
CARPIO, J.:
The Case
In this Petition for Review on Certiorari under Rule 45 of the 1997 Rules of Civil Procedure, petitioner Producer’s Bank of the Philippines (“petitioner” for brevity) assails the September 19, 1996 Resolutioni[1] of the Court of Appeals in CA-G.R. CV No. 50016 which dismissed petitioner’s appeal for being filed out of time. The Court of Appeals decreed thus:
“WHEREFORE, finding the Motion to Dismiss Appeal to be meritorious, the same is granted. The appeal is DISMISSED.
SO ORDERED.”ii[2]
The Antecedent Facts
On March 29, 1988, petitioner through its former counsel, Atty. Antonio M. Pery, filed a Complaint to recover the sum of P11,420,000.00 from Asia Trust Development Bank (“Asiatrust” for brevity) and the Central Bank of the Philippines (“CBP” for brevity) before the Regional Trial Court of Makati, Branch 147 (“RTC” for brevity). Thereafter, petitioner filed an amended complaint, impleading additional defendants.iii[3]
Petitioner sought to recover the proceeds of several treasury bills amounting to P11,420,000.00. According to petitioner, said proceeds were fraudulently credited to the demand deposit account of Asiatrust with the CBP and withdrawn by Milagros B. Nayve, Elizabeth C. Garcia and Alberto Limjoco, Sr.
It appears that petitioner owned several treasury bills. On the respective maturity dates of these bills, petitioner caused these bills to be delivered to the CBP. The bills were initially received by Manuel B. Ala, petitioner’s rediscounting clerk together with a letter of transmittal and a receipt for the
[G.R. No. 126620. April 17, 2002]
PRODUCERS BANK OF THE PHILIPPINES, petitioner, vs. HONORABLE COURT OF APPEALS, ASIA TRUST DEVELOPMENT BANK, RAINELDA A. ANDREWS, SAMSON FLORES, ALFONSO LEONG, JR., RHODORA D. LANDRITO, JOSEPH CHUA, RAMON YU, EDUARDO G. ESCOBAR, MILAGROS B. NAYVE, ELIZABETH C. GARCIA, ALBERTO LIMJOCO, SR., GLORIA E. MENPIN and ESPERANZA FLORENDO, respondents.
D E C I S I O N
CARPIO, J.:
The Case
In this Petition for Review on Certiorari under Rule 45 of the 1997 Rules of Civil Procedure, petitioner Producer’s Bank of the Philippines (“petitioner” for brevity) assails the September 19, 1996 Resolutioni[1] of the Court of Appeals in CA-G.R. CV No. 50016 which dismissed petitioner’s appeal for being filed out of time. The Court of Appeals decreed thus:
“WHEREFORE, finding the Motion to Dismiss Appeal to be meritorious, the same is granted. The appeal is DISMISSED.
SO ORDERED.”ii[2]
The Antecedent Facts
On March 29, 1988, petitioner through its former counsel, Atty. Antonio M. Pery, filed a Complaint to recover the sum of P11,420,000.00 from Asia Trust Development Bank (“Asiatrust” for brevity) and the Central Bank of the Philippines (“CBP” for brevity) before the Regional Trial Court of Makati, Branch 147 (“RTC” for brevity). Thereafter, petitioner filed an amended complaint, impleading additional defendants.iii[3]
Petitioner sought to recover the proceeds of several treasury bills amounting to P11,420,000.00. According to petitioner, said proceeds were fraudulently credited to the demand deposit account of Asiatrust with the CBP and withdrawn by Milagros B. Nayve, Elizabeth C. Garcia and Alberto Limjoco, Sr.
It appears that petitioner owned several treasury bills. On the respective maturity dates of these bills, petitioner caused these bills to be delivered to the CBP. The bills were initially received by Manuel B. Ala, petitioner’s rediscounting clerk together with a letter of transmittal and a receipt for the