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The Supreme Court of the Philippines denied the petition of the Land Bank of the Philippines (LBP) seeking to reverse a Court of Appeals decision dismissing criminal charges of estafa against officers of Asian Construction and Development Corporation (ACDC). The Court found that the transactions between LBP and ACDC did not constitute true trust receipt transactions as defined by law because the construction materials that were the subject of the transactions were delivered to ACDC before the trust receipts

Author

Soc Saballa

Language

EN