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What is Republic v. Grijaldo: Loan Obligation Case about?

The Republic of the Philippines sued Jose Grijaldo to collect unpaid loans that were originally obtained from the Bank of Taiwan. [1] Grijaldo argued that the obligation was extinguished since the contract was with the Bank of Taiwan, but the court held that the obligation to repay the loans, through the promissory notes, transferred along with the assets of the Bank of Taiwan to the U.S. and then to the Republic of the Philippines. [2] Grijaldo also argued the claim had prescribed after more than 16 years,

Author

Anjela Ching

Language

EN