03/26/2009 [ tribune.net.ph ]
The Philippine National Bank (PNB) should accept defeat on a court case involving the former PNB property in Buendia Ave., businessman Ramon Jacinto said over a protest PNB issued yesterday on a writ of execution ruled by the court to allow the Jacinto group to retake the property.
Jacinto’s lawyer, Allan Gepty, said the injunction which became final and executory and was the basis of the writ of execution issued by Judge Rommel Baybay enjoined PNB from foreclosing all collaterals pledged or mortgaged.
He mentioned that in the decision of the Court of Appeals which was affirmed by the Supreme Court, it is stated that it is yet to be determined whether RJ Group was in default on the property.
Thus, pending determination thereof in the main case the status quo before the controversy must be restored and this was what Judge Baybay did, he said.
“PNB should accept defeat graciously. After all, for the past 10 years that they have enjoyed possession of the lot and earned approximately P70 million worth o parking fees and caused me billions in damages by illegally dispossessing me of what is rightfully mine,” Jacinto said.
I am extending my hand of friendship in spite of the fact that past PNB management clearly maltreated me. The courts have spoken that all collaterals mortgaged should be returned to “status quo ante” or the status before foreclosure. PNB itself in its recent pleadings dated the status quo ante as the period prior to Feb. 25, 1999, when I had clear possession and title, he added.
“If you take over a house illegally, how can you return only the bathroom if the courts declare the take over of the house was illegal and you are not yet in default? PNB’s lawyers are playing with semantics on the decision. It clearly stated all collaterals pledged and mortgaged the listings were just examples,” Gepty said.
“What PNB and I should do is to stop bickering and sit down to hammer out an amicable settlement,” Jacinto added.
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