Professional Documents
Culture Documents
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SECOND DIVISION.
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Rollo, p. 78.
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Id. at 104-105.
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Id. at 110.
Id. at 88-89.
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These include Circular Letter No. 24 dated October 25, 1974 which
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Rationalizing and stabilizing the export of sugar and for other purposes.
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Defining the powers and functions of the Office of the Solicitor General.
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Board of Optometry v. Colet, 260 SCRA 88, 103 (1996) citing Garcia
vs. Executive Secretary, 204 SCRA 516, 522 (1991); Santos III vs.
Northwest Orient Airlines, 210 SCRA 256, 261 (1992).
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Producers from Crop Year 1974-1975 to Crop Year 1984-1985 Due to the
Actions of Government-owned and Controlled Agencies.
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SCRA 547, 575 (1998) citing Frivaldo vs. Commission on Elections, 257
SCRA 727, 743-744 (1996).
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Rollo, p. 78.
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law and factual issues are not within its province. In view
of the aforequoted finding of fact, no manifest error is
chargeable to the respondent court for refusing to pierce
the veil of corporate fiction.
On the fourth issue, the appellate court found that there
were two sets of accounts between petitioners and PNB,
namely:
1. The accounts relative to the loan financing scheme entered
into by the Mirasols with PNB (PNBs Brief, p. 16) On the
question of how much the PNB lent the Mirasols for crop
years 1973-1974 and 1974-1975, the evidence recited by the
lower court in its decision was deficient. We are offered (sic)
PNB the amount of FIFTEEN MILLION NINE HUNDRED
SIXTY FOUR THOUSAND TWO HUNDRED FIFTY TWO
PESOS and NINETY THREE Centavos (P15,964,252.93)
but this is the alleged balance the Mirasols owe PNB
covering the years 1975 to 1982.
2. The account relative to the Mirasols current account
Numbers 5186 and 5177 involving the amount of THREE
MILLION FOUR HUNDRED THOUSAND PESOS
(P3,400,000.00) PNB claims against the Mirasols. (PNBs
Brief, p. 17)
In regard to the first set of accounts, besides the proceeds from
PNBs sale of sugar (involving the defendant PHILEX in relation to
the export portion of the stock), the PNB foreclosed the Mirasols
mortgaged properties realizing therefrom in 1982 THREE
MILLION FOUR HUNDRED THIRTEEN THOUSAND PESOS
(P3,413,000.00), the PNB itself having acquired the properties as
the highest bidder.
As to the second set of accounts, PNB proposed, and the
Mirasols accepted, a dacion en pago scheme by which the Mirasols
conveyed to PNB pieces of property valued at ONE MILLION
FOUR HUNDRED TEN THOUSAND FOUR HUNDRED SIXTY25
SIX PESOS (P1,410,466.00) (PNBs Brief, pp. 16-17).
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Rollo, p. 85.
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Id. at 86.
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SECTION 7. x x x After deducting its commission of two and onehalf (2-1/2%) percent of gross sales, the balance of the proceeds of
sugar trading operations for every crop year shall be set aside by
the Philippine Exchange Company, Inc., as profits which shall be
paid to a special fund of the National Government subject to the
disposition of the President for public purposes.
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Id. at 87.
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Catapusan v. Court of Appeals, 264 SCRA 534 (1996); People vs. Flores,
243 SCRA 374 (1995); Lufthansa German Airlines v. Court of Appeals,
243 SCRA 600 (1995).
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Del Rosario v. Court of Appeals, 267 SCRA 158, 172 (1997) citing
BPI Express Card Corp. v. Court of Appeals, 296 SCRA 260, 272
(1998) citing Barons Marketing Corp. vs. Court of Appeals, 286 SCRA 96
(1998).
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