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What is Saura Import vs. Development Bank Case about?

- The document summarizes a court case between Saura Import and Export Co., Inc. and the Development Bank of the Philippines (DBP). - Saura applied for a 500,000 peso loan from the Rehabilitation Finance Corporation (RFC) to construct a factory building and purchase machinery to manufacture jute sacks. RFC initially approved the loan but later reduced it to 300,000 pesos. - Issues arose regarding co-signers on the loan documents and the availability of local raw materials, specifically kenaf, for the jute

Author

Gwynn de Leoz

Language

EN