Banco Filipino v. CA (G.R. No. 143896)

BANCO FILIPINO SSAVINGS AND MORTGAGE BANK, petitioner, vs. COURT OF APPEALS and SANTIAGO (Isabela) MEMORIAL PARK, INC., respondents. [G.R. No. 143896. July 8, 2005]

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Based on the foregoing, there is no basis for the order of the CA to allow private respondent to repurchase the foreclosed property in the amount of P925,448.17 plus the expenses incurred in the sale of the property, including the necessary and useful expenses made on the thing sold.

WHEREFORE, the decision of the Court of Appeals dated March 31, 2000 is hereby REVERSED and SET ASIDE. The Order of the Regional Trial Court of Santiago, Isabela, Branch 21, dated May 10, 1994 in Civil Case No. 2036 dismissing the complaint for redemption and specific performance is REINSTATED and AFFIRMED.

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