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What is Lapu-Lapu Case: Foreclosure and Jurisdiction about?

1) Lapu-Lapu Devt Corp (LLDHC) owned 78 lots that it mortgaged to GSIS as collateral for a loan to develop the property. LLDHC defaulted and GSIS foreclosed, acquiring the lots at public auction. 2) GSIS then sold the lots to Group Management Corp (GMC) but LLDHC filed suit to annul the foreclosure. GMC filed its own suit for specific performance. 3) The court dismissed LLDHC

Author

Keyan Motol

Language

EN