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RCBC by annedefranco is a document available to read on EtoBox.
What is RCBC about?
RCBC granted GOYU credit facilities totaling over P117 million secured by real estate mortgages. GOYU obtained insurance policies on the mortgaged properties but did not properly endorse them over to RCBC. When the properties were destroyed by fire, both GOYU and RCBC claimed the insurance proceeds. The court ruled that as mortgagee, RCBC had insurable interest in the properties and right to the insurance proceeds in substitution for the lost secured assets, since the intention of the parties based on their
- Author
- annedefranco
- Language
- EN