Download Case Digest Ucpb Et.al v e. Ganzon PDF

TitleCase Digest Ucpb Et.al v e. Ganzon
TagsCommon Law Jurisdiction Certiorari Separation Of Powers Appeal
File Size55.3 KB
Total Pages4
Table of Contents
                            June 30, 2009, MINITA V. CHICO-NAZARIO
                        
Document Text Contents
Page 1

CASE DIGEST UCPB ET. AL V. E. GANZON, INC

I. SHORT TITLE: UCPB ET. AL V. E. GANZON, INC

II. FULL TITLE: UNITED COCONUT PLANTERS BANK, JERONIMO U.
KILAYKO, LORENZO V. TAN, ENRIQUE L. GANA, JAIME W. JACINTO and
EMILY R. LAZARO, - versus - E. GANZON, INC., G.R. No. 168859

E. GANZON, INC.,- versus -UNITED COCONUT PLANTERS BANK, JAIME
W. JACINTO and EMILY R. LAZARO, G.R. No. 168897
June 30, 2009, MINITA V. CHICO-NAZARIO

III. TOPIC:
______________________________________________________________________________

Banking laws – Appeal of BSP decision to CA

IV. STATEMENT OF FACTS:

From 1995 to 1998, EGI a corporation engaged in real estate construction

and development availed itself of credit facilities from UCPB to finance its

business expansion. To secure said credit facilities, EGI mortgaged to UCPB

its condominium unit inventories in EGI Rufino Plaza, located at the

intersection of Buendia and Taft Avenues, Manila.



Initially, EGI was able to make periodic amortization payments of its loans to

UCPB, however after sometime it defaulted in its payment of amortizations,

thus, making all of its obligations due and demandable. Thereafter, UCPB

stopped sending EGI monthly statements of its accounts.

In their MOA it is amended that titles to the properties of EGI shall be

transferred to UCPB by the following modes: (1) foreclosure of mortgage;

(2) dacion en pago; (3) creation of a holding company; and (4) use of other

alternatives as may be deemed appropriate by UCPB.

EGI President Engineer Eulalio Ganzon (Ganzon) and Senior Vice-President

Layug to review their files to verify the figures on the loan obligations of EGI

as computed by UCPB, they discovered the UCPB Internal Memorandum

dated 22 February 2001, signed by UCPB corporate officers. The said Internal

Memorandum presented two columns, one with the heading ACTUAL and the

other DISCLOSED TO EGI. The figures in the two columns were

conflicting. The figures in the DISCLOSED TO EGI column computed the

unpaid balance of the loan obligations of EGI to be P226,967,194.80, the

amount which UCPB actually made known to and demanded from EGI. The

figures in the ACTUAL column calculated the remaining loan obligations of

EGI to be only P146,849,412.58.



Consequently, EGI wrote UCPB a letter dated 21 May 2001,[12] which

included, among other demands, the refund by UCPB to EGI of the over-

Eugenio, Maricar V.

http://sc.judiciary.gov.ph/jurisprudence/2009/june2009/168859.htm#_ftn12

Page 2

http://sc.judiciary.gov.ph/jurisprudence/2009/june2009/168859.htm#_ftn13

Page 3

http://sc.judiciary.gov.ph/jurisprudence/2009/june2009/168859.htm#_ftn36

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