May I reproduce the case below, for legal research purposes of the visitors of this blog. For purposes of the law, the term “agency” includes any executive department, military department, Government corporation, Government controlled corporation, or other establishment in the executive branch of the Government (including the Executive Office of the President), or any independent regulatory agency. It provides that on or before March 1 of each calendar year, each agency shall submit a report covering the preceding calendar year to the Speaker of the House of Representatives and President of the Senate for referral to the appropriate committees of the Congress. The Court vacated its previous Decision rendered on September 14, 1992 in the same case, finding that RCBC can rightfully move for the extrajudicial foreclosure of the mortgage since it was done on October 16, 1984, while the management committee was appointed only on March 18, 1985. The Court also took note of the SEC’s denial of the petitioner’s consolidated motion to cite the sheriff and RCBC for contempt and to annul the auction proceedings and sale. Until a court of competent jurisdiction, which in this case is the RTC of Dumangas, Iloilo, Branch 68, annuls the foreclosure sale of the properties involved, petitioner is bereft of a valid title over the properties (Yulienco v. Court of Appeals, 441 Phil.
The fact that there is a pending case for the annulment of the foreclosure proceedings and auction sales is of no moment. Is there a possibility that the City could take away their paid insurance benefit? During rehabilitation receivership, the assets are held in trust for the equal benefit of all creditors to preclude one from obtaining an advantage or preference over another by the expediency of an attachment, execution or otherwise. The mortgage on petitioner’s chattels was likewise foreclosed and the Certificate of Sale was issued on May 14, 2002. It also appears that titles over the properties have already been transferred to respondent bank. It can be beneficial for those who are suffering from intense fears, and symptoms have not gotten better over time. An experienced car accident attorney can also determine if you should file a claim seeking damages against a negligent driver or company in the case of a defective car or part. It is an original and independent action that was not part of the trial that had resulted in the rendition of the judgment or order complained of. This is in accord with the trial court’s authority to give due course to the petition or not under Rule 4, Section 9 of the Interim Rules.
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A petition for certiorari should be filed not later than sixty days from the notice of judgment, order, or resolution, and a motion for reconsideration is generally required prior to the filing of a petition for certiorari, in order to afford the tribunal an opportunity to correct the alleged errors. Under the Interim Rules, the RTC, within five (5) days from the filing of the petition for rehabilitation and after finding that the petition is sufficient in form and substance, shall issue a Stay Order appointing a Rehabilitation Receiver, suspending enforcement of all claims, prohibiting transfers or encumbrances of the debtor’s properties, prohibiting payment of outstanding liabilities, and prohibiting the withholding of supply of goods and services from the debtor. It is provided therein that all decisions and final orders in cases falling under the Interim Rules of Corporate Rehabilitation and the Interim Rules of Procedure Governing Intra-Corporate Controversies under Republic Act No. 8799 shall be appealed to the CA through a petition for review under Rule 43 of the Rules of Court to be filed within fifteen (15) days from notice of the decision or final order of the RTC. On the other hand, the petition for corporate rehabilitation was filed only on August 14, 2002 and the Rehabilitation Receiver appointed on August 20, 2002. Respondent bank, therefore, acted within its prerogatives when it foreclosed and bought the property, and had title transferred to it since it was made prior to the appointment of a rehabilitation receiver. Art icle was g enerated wi th the he lp of GSA Con tent G en er ator Demoversion .