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What is Saura Import vs. Development Bank Case about?

- Saura Import and Export Co. applied for a P500,000 loan from the Development Bank of the Philippines (DBP) to construct a factory building and purchase machinery. - The DBP approved the loan but later reduced it to P300,000 and increased conditions, requiring more co-signers on the promissory note. - Disputes arose regarding the terms of the loan, and one of the co-signers withdrew support. The DBP then cancelled the loan. Saura sued the DBP for damages.

Author

Gabe Bedana

Language

EN