Republic of the
Supreme Court
SECOND DIVISION
|
SPOUSES
GEORGE R. TAN and SUSAN L. TAN,
Petitioners, - versus - BANCO DE ORO UNIBANK, INC., Respondent. x------------------------------------------------x GEORGE R. TAN and SUSAN L. TAN, Petitioners, - versus - BANCO DE ORO UNIVERSAL BANK, Respondent. x------------------------------------------------x BANCO DE ORO UNIBANK, INC., Petitioner, - versus - GEORGE R. TAN and SUSAN L. TAN, Respondents. |
G.R.
No. 188792
G.R. Nos.
190677-78 G.R. Nos. 190699-700 Present: VELASCO,
JR., J.,* NACHURA,
Acting Chairperson, LEONARDO-DE
CASTRO,** PERALTA,
and BERSAMIN,*** JJ. Promulgated: January 10,
2011 |
x------------------------------------------------------------------------------------x
RESOLUTION
NACHURA, J.:
These
consolidated petitions assail the Court of Appeals (CA) September 18, 2009 Decision[1]
and December 16, 2009 Resolution[2]
in CA-G.R. SP No. 98307 and CA-G.R. SP No. 101421; and its March 12, 2009 Decision[3]
and July 15, 2009 Resolution[4]
in CA-G.R. SP No. 102799.
In CA-G.R.
SP No. 98307 and CA-G.R. SP No. 101421, the appellate court dissolved the writ
of preliminary injunction issued by the Regional Trial Court (RTC) of P32 Million.
After the
filing of the Reply to BDO’s Comment in G.R. No. 188792 and while awaiting
BDO’s Comment on the petition in G.R. Nos. 190677-78 and Spouses Tan’s Comment on
the petition in G.R. Nos. 190699-700, BDO moved for extension of time to file the
appropriate pleading in view of the settlement of the consolidated cases.[5]
On December
16, 2010, Spouses Tan and BDO filed a Joint Manifestation and Motion to Dismiss,[6]
alleging that they have come to an agreement for the amicable resolution of
their respective claims to avoid the inconvenience of litigation. Attached to
the motion are the Compromise Agreement executed by the parties and a copy of
the RTC decision approving the agreement. The Compromise Agreement reads:
COMPROMISE AGREEMENT
This Agreement, which shall supplement Memorandum of Agreement dated 27 May
2010, is made and executed this _____ day of _______ 2010, by and between:
SPOUSES GEORGE R. TAN AND SUSAN L. TAN,
Filipinos, of legal age, residing at
- and -
BANCO DE ORO UNIBANK, INC., a banking
corporation duly organized and existing under and by virtue of the laws of the
Republic of the Philippines, with office address at 10/F BDO Corporate Center South Tower, Makati Avenue corner H.V.
Dela Costa St., Makati City, represented herein by its Senior Vice President,
Melanie S. Belen, and Vice President, Emily D. Samoy, as evidenced by the
Special Power of Attorney indicating their authority, a copy of which is
attached hereto as Annex “A,” hereinafter referred to as the “Bank”;
(herein after referred to singly as a
“Party,” and collectively as “Parties”).
WITNESSETH: That
Spouses Tan obtained various loans and other
credit accommodations from the Bank in the total principal amount of Fifty Nine
Million Nine Hundred Eighty Four Thousand Six Hundred Twenty Four and 19/100
Pesos (P59,984,624.19). As security for the loans and other credit
accommodations, Spouses Tan executed a Real
Estate Mortgage and Amended Real
Estate Mortgage on 15 January 2004 and 02 February 2004, respectively,
covering a parcel of land located at 42 Ifugao Street, La Vista Subdivision,
Quezon City, covered by Transfer Certificate of Title (“TCT”) No. 13600,
registered in the name of George Sin Gee Tan married to Susan Lim Tan (the “Property”).
Sometime in 2006, Spouses Tan defaulted in
the payment of their loan obligations. Hence, the Bank initiated foreclosure proceedings on the foregoing Real Estate Mortgage. At the auction
sale on 03 December 2009, the Bank emerged as highest bidder and was issued Certificate of Sale dated 04 December
2009.
Spouses Tan filed a complaint for annulment
of mortgage with the Regional Trial Court of Quezon City, docketed as Civil
Case No. Q-07-59545 (the “Case”), pending before Branch 81 (the “Court”).
In order to put an end to the protracted
litigation, the Bank has accepted the proposal of Spouses Tan and entered into
and executed Memorandum of Agreement
dated 27 May 2010 (the “MOA”).
Further to the MOA, and as a supplement
thereto, and pursuant to the Court’s Order
given in open court on 07 July 2010, the parties have agreed to execute this
Agreement.
NOW, THEREFORE, for and in consideration of
the foregoing premises, the parties hereby agree to the following terms and
conditions:
1. The
Bank shall allow Spouses Tan to redeem the Property for a total redemption
price of SIXTY MILLION PESOS (P60,000,000.00), subject to the following
terms:
a.
THIRTY
MILLION PESOS (P30,000,000.00), payable in five (5) years beginning June
2010, or until June 2015 (the “Term”). Spouses Tan shall pay Two Hundred Fifty
Thousand Pesos (P250,000.00) a month, for sixty (60) months, with a
balloon payment in the amount of Fifteen Million Pesos (P15,000,000.00)
at the end of the Term.
b.
For and
in consideration of the amount of THIRTY MILLION PESOS (P30,000,000.00),
Spouses Tan shall cede, transfer and convey to and in favor of the Bank, all
its rights, possession, title and interests in a parcel of land in Roxas City
covered by TCT No. T-16024, registered in the name of Spouses Tan (the “Roxas
Property”).
2. On
December 2010, or upon expiration of the redemption period, Spouses Tan shall
allow the Bank to consolidate title over the Property.
3. Upon consolidation of title in the Bank’s
name, the Bank and Spouses Tan shall execute a Contract to Sell covering the
Property in accordance with the terms under Section 1.
4. Upon
full payment of the amount under Section 1 (a), and the cession, transfer and
conveyance to the Bank of the Roxas Property pursuant to Section 1 (b), the
parties agree that Spouses Tan’s personal loan obligations with the Bank,
including Spouses Tan’s personal loan obligations with then Equitable PCI Bank,
shall be deemed fully settled.
5. After
execution and signing, the parties shall file this Agreement with the Court for
approval.
The parties hereby agree to move for the
approval of this Agreement before the Court. However, the obligations under
this Agreement shall be immediately enforceable even prior to the approval of
this Agreement.
6. Parties
agree to move for the dismissal of the Case, within fifteen (15) days from
execution of all documents necessary to implement this Agreement.
7. All
expenses, fees, and taxes in connection with: (a) the cession, transfer and
conveyance to the Bank of the Roxas Property; and (b) the consolidation of
title of the Property in the Bank’s name, shall be for the account of the Bank.
8. Upon failure of Spouses Tan to comply
with any of the terms and conditions under this Agreement, the Bank shall be
entitled, without necessity of any demand or notice:
a. To take immediate possession of the Property.
Spouses Tan agree to peacefully surrender and immediately vacate the Property.
b. To file the necessary motion or pleading with
the Court to implement this Agreement, and/or enforce its rights under law and
equity.
9. Parties
hereby mutually and irrevocably waive all claims, counterclaims, demands, and
causes of action, which they raised, or could have raised, against each other,
including future claims of whatever kind, in connection with the Case and the
Property.
10. The
parties confirm that the terms and conditions contained in this Agreement have
been mutually agreed upon, without any act of force, fraud or undue
intimidation. The parties further confirm that they have consulted their
respective legal counsel, and that they understand the legal consequences of
this Agreement. Accordingly, the parties hereby agree to abide by the terms and
conditions hereof, which have the force and effect of a lawful right and a
demandable obligation.
11. In the event that any one or more of the
provisions of this Agreement be later declared invalid, illegal or
unenforceable by any court of competent jurisdiction, the validity, legality
and enforceability of the remaining provisions shall in no way be impaired or
affected thereby.
12. The parties hereto intend for this
Agreement to supplement the MOA. All terms and conditions of the MOA shall
remain in full force and effect and remain unmodified except as specifically
set forth in this Agreement.
IN WITNESS WHEREOF, the parties have executed
this Agreement as of the date first above-written.
BANCO DE ORO UNIBANK, INC.
By:
Sgd.
Sgd.
MELANIE S. BELEN GEORGE R. TAN
Sgd.
Sgd.
EMILY D. SAMOY
SUSAN L. TAN[7]
In a decision[8]
dated September 15, 2010, the RTC approved the compromise agreement. Having
been sealed with court approval, the compromise agreement shall govern the
respective rights and obligations of the parties. In view of the foregoing, the
dismissal of the consolidated petitions is in order.
WHEREFORE, premises considered, the Joint Manifestation
and Motion to Dismiss is hereby GRANTED.
Consequently, the consolidated petitions are DISMISSED. The cases are considered CLOSED and TERMINATED.
SO ORDERED.
ANTONIO
EDUARDO B. NACHURA
Associate
Justice
Acting
Chairperson
WE CONCUR:
|
PRESBITERO
J. VELASCO, JR. Associate Justice |
TERESITA J. LEONARDO-DE CASTRO Associate Justice |
|
DIOSDADO
M. PERALTA Associate Justice |
LUCAS
P. BERSAMIN Associate Justice |
ATTESTATION
I attest that the
conclusions in the above Resolution had been reached in consultation before the
case was assigned to the writer of the opinion of the Court’s Division.
ANTONIO EDUARDO B. NACHURA
Associate Justice
Acting Chairperson, Second Division
CERTIFICATION
Pursuant to Section
13, Article VIII of the Constitution and the Division Acting Chairperson’s Attestation,
I certify that the conclusions in the above Resolution had been reached in
consultation before the case was assigned to the writer of the opinion of the
Court’s Division.
RENATO
C. CORONA
Chief Justice
* In lieu of Associate Justice Antonio T. Carpio per Raffle dated October 13, 2010.
** In lieu of Associate Justice Jose Catral Mendoza per Raffle dated October 13, 2010.
*** In lieu of Associate Justice Roberto A. Abad per Raffle dated March 8, 2010.
[1] Penned
by Associate Justice Jose Catral Mendoza (now a member of this Court), with
Associate Justices Myrna Dimaranan-Vidal and Antonio L. Villamor, concurring; rollo (G.R. Nos. 190699-700), pp. 56-87.
[2]
[3] Penned
by Associate Justice Monina Arevalo-Zenarosa, with Associate Justices Mariano
C. del Castillo (now a member of this Court) and Ramon M. Bato, Jr.,
concurring; rollo (G.R. No. 188792),
pp. 29-45.
[4]
[5] Rollo (G.R. Nos. 190699-700), pp.
757-759.
[6]
[7]
[8] Rollo (G.R. Nos. 190677-78), pp.
150-153.