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This document summarizes a court case between Philippine National Bank (PNB) and various respondent corporations. PNB sought to annul a Court of Appeals decision allowing the issuance of a preliminary injunction preventing PNB from foreclosing on properties used as collateral for loans. The loans were issued by PNB International Finance Ltd. (PNB-IFL), a PNB subsidiary, but PNB was tasked with foreclosure as attorney-in-fact. The court found that PNB was not privy to the loan contracts and had no power to a

Author

RhoddickMagrata

Language

EN