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Prof. Joselito Guianan Chan's The Labor Code of the Philippines, Annotated Labor Standards & Social Legislation Volume I of a 3-Volume Series 2019 Edition (3rd Revised Edition)
 

 
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UNITED STATES SUPREME COURT JURISPRUDENCE
 

 
PHILIPPINE SUPREME COURT JURISPRUDENCE
 

   
December-2008 Jurisprudence                 

  • A.C. No. 6713 - ZENAIDA B. GONZALES v. ATTY. NARCISO PADIERNOS

  • A.C. No. 6882 - MARISA B. WILLIAMS, ET AL. v. ATTY. RODRIGO ICAO

  • A.M. No. 05-12-372-MTCC - RE: JUDGE HECTOR B. BARILLO, ETC. v. CLERK OF COURT CARMEL A. CUIZON, ET AL.

  • A.M. No. 05-2002 Formerly OCA I.P.I. No. 01-1245-P - SANTIAGO B. BURGOS v. VICKY A. BAES, ETC.

  • A.M. No. 06-3-196-RTC and A.M. No. 06-7-416-RTC - LETTER OF JUDGE JOSEFINA D. FARRALES, ACTING PRESIDING JUDGE, RTC, BR. 72, OLONGAPO CITY RE: 30 CASES AND 84 MOTIONS SUBMITTED FOR DECISION

  • A.M. OCA No. CA-02-16-P Formerly OCA IPI No. 00-27-CA-P - ANNA LIZA REYES-TAYAG v. ABELARDO TAYAG, ET AL.

  • A.M. No. CA-08-23-P Formerly A.M. OCA IPI No. 05-79-CA-P - JANETTE P. GABATIN v. MARILOU M. QUIRINO

  • A.M. No. MTJ-92-687 - ENGR. EDGARDO C. GARCIA v. JUDGE MELJOHN DE LA PEÑA

  • A.M. No. P-04-1793 - RAUL ZAMUDIO v. EFREN AURO

  • A.M. No. P-04-180 Formerly OCA-I.P.I. No. 03-1714-P and A.M. NO. P-02-1653 Formerly A.M. No. 02-9-237-MCTC - TERESITA RETAZO v. LORNA A. VERDON, ETC.

  • A.M. No. P-06-2152 Formerly OCA IPI No. 04-1944-P - EMILY G. CRUZ v. PABLO F. FERNANDO

  • A.M. No. P-06-2207 - MA. LOURDES V. AREOLA, ET AL. v. OSCAR P. PATAG

  • A.M. No. P-06-2237 - PAG-ASA G. BELTRAN v. ROMEO MONTEROSO

  • A.M. No. P-08-2587 Formerly OCA IPI No. 99-678-P - DOMINGA C. MENOR v. TEODORA P. GUILLERMO, ETC.

  • A.M. No. RTJ-03-1762 Formerly OCA I.P.I. No. 02-1422-RTJ - SERGIO & GRACELDA N. ANDRES v. JUDGE JOSE S. MAJADUCON, ET AL.

  • A.M. No. RTJ-05-1952 - OFFICE OF THE COURT ADMINISTRATOR v. JUDGE NORMA C. PERELLO, ET AL.

  • A.M. No. RTJ-07-2092 Formerly OCA I.P.I. No. 07-2685-RTJ - EVA LUCIA Z. GEROY v. HON. DAN R. CALDERON

  • A.M. No. RTJ-05-1911 Formerly A.M. OCA I.P.I. No. 02-9-540-RTC and A.M. NO. RTJ-05-1913 Formerly A.M. OCA I.P.I. No. 02-1548-RTJ - OFFICE OF THE COURT ADMINISTRATOR v. JUDGE RODRIGO B. LORENZO, ETC.

  • G.R. No. 124795 - FORFOM DEVELOPMENT CORPORATION v. PHILIPPINE NATIONAL RAILWAYS

  • G.R. No. 136197 - NATIVIDAD BAUTISTA-BORJA v. ILUMINADA BAUTISTA, ET AL.

  • G.R. No. 141309 - LIWAYWAY VINZONS-CHATO v. FORTUNE TOBACCO CORPORATION

  • G.R. No. 143365 - GENEROSO SALIGUMBA, ET AL. v. MONICA PALANOG

  • G.R. No. 144492 - LUWALHATI R. ANTONINO v. HON. OMBUDSMAN ANIANO A. DESIERTO, ET AL.

  • G.R. No. 145941 - THE MANILA BANKING CORPORATION v. SPS. ALFREDO AND CELESTINA RABINA, ET AL.

  • G.R. No. 152150 - SPS. REYNALDO O. PADUA, ETC., ET AL. v. HON. COURT OF APPEALS, ET AL.

  • G.R. No. 154108 and G.R. NO. 157505 - FIRST UNITED CONSTRUCTION CORPORATION v. MENANDRO G. VALDEZ, ET AL.

  • G.R. No. 155454 - EDUARDO COLMENARES, ET AL. v. HEIRS OF ROSARIO VDA DE GONZALES, ET AL.

  • G.R. No. 156040 - DIGITAL TELECOMMUNICATIONS PHILIPPINES, INC. v. CITY GOVT OF BATANGAS ETC. ET AL.

  • G.R. No. 156382 - MCDONALD'S KATIPUNAN BRANCH, ETC. v. MA. DULCE ALBA

  • G.R. No. 157784 - RICHARD B. LOPEZ, ETC. v. COURT OF APPEALS, ET AL.

  • G.R. No. 158621 - ROYAL CARGO CORPORATION v. DFS SPORTS UNLIMITED, INC.

  • G.R. No. 159132 - FE CAYAO-LASAM v. SPOUSES CLARO & EDITHA RAMOLETE

  • G.R. No. 159589 - REPUBLIC OF THE PHILIPPINES v. HEIRS OF JUAN FABIO ETC., ET AL.

  • G.R. No. 160031 - SOCIAL JUSTICE SOCIETY v. HON. JOSE D. LINA ETC. ET AL.

  • G.R. No. 161844 - RAFAEL M. CONCEPCION v. COURT OF APPEALS, ET AL.

  • G.R. No. 162311 - LEVI STRAUSS (PHILS.), INC. v. TONY LIM

  • G.R. No. 162333 - BIENVENIDO C. TEOCO, ET AL. v. METROPOLITAN BANK AND TRUST COMPANY

  • G.R. NOS. 162335 & 162605 - SEVERINO M. MANOTOK IV, ET AL. v. HEIRS OF HOMER L. BARQUE, ETC.

  • G.R. No. 162335 / G.R. No. 162605 - G.R. No. 162335 and G.R. No. 162605 - YNARES-SANTIAGO - DISSENTING OPINION

  • G.R. No. 162335 / G.R. No. 162605 - G.R. No. 162335 and G.R. No. 162605 - CARPIO - SEPARATE CONCURRING OPINION

  • G.R. No. 162335 / G.R. No. 162605 - G.R. No. 162335 and G.R. No. 162605 - CORONA - SEPARATE OPINION

  • G.R. No. 162729 - SOLEDAD LEONOR PENA SUATENGCO, ET AL. v. CARMENCITA O. REYES

  • G.R. No. 163156 and G.R. NO. 166845 - NEGROS NAVIGATION CO., INC. v. COURT OF APPEALS, ET AL.

  • G.R. No. 163898 - ROBERTO BARBASA v. HON. ARTEMIO G. TUQUERO, ET AL.

  • G.R. No. 164026 - SECURITIES AND EXCHANGE COMMISSION v. GMA NETWORK, INC.

  • G.R. No. 164344 - KENJI OKADA v. SECURITY PACIFIC ASSURANCE CORPORATION

  • G.R. No. 164521 - ALLANDALE SPORTSLINE, INC., ET AL. v. THE GOOD DEVELOPMENT CORPORATION

  • G.R. No. 164820 - VICTORY LINER, INC. v. PABLO RACE

  • G.R. No. 167011 - SPS. CARLOS S. ROMUALDEZ, ETC. v. COMMISSION ON ELECTIONS, ET AL.

  • G.R. No. 167181 - SPS. CARLOS MUNSALUD AND WINNIE MUNSALUD v. NATIONAL HOUSING AUTHORITY

  • G.R. No. 167449 - BRISTOL MYERS SQUIBB (PHIL.), INC. v. RICHARD NIXON A BABAN

  • G.R. No. 168173 - PEOPLE OF THE PHILIPPINES v. F01 FELIPE DELA CRUZ Y REYES, ET AL.

  • G.R. No. 168537 - DAMIAN AKLAN, ET AL. v. SAN MIGUEL CORP, ET AL.

  • G.R. No. 168695 - PEOPLE OF THE PHILIPPINES v. MARIBEL LAGMAN, ET AL.

  • G.R. No. 168906 - PERLA S. ESGUERRA v. JUDGE FATIMA GONZALES-ASDALA, ET AL.

  • G.R. No. 169013 - DEPARTMENT OF EDUCATION, ETC. v. GODOFREDO G. CUANAN

  • G.R. No. 169095 - HEUNGHWA INDUSTRY CO., LTD. v. DJ BUILDERS CORPORATION

  • G.R. No. 169498 - OSCAR DE LOS SANTOS, ET AL. v. COURT OF APPEALS

  • G.R. No. 170116 - ATTY. CAROLINA R. RAMOS v. COURT OF APPEALS, ET AL.

  • G.R. No. 170282 - ALEXANDER AND JEAN J. BACUNGAN v. COURT OF APPEALS, ET AL.

  • G.R. No. 170338 and G.R. NO. 179275 - VIRGILIO O. GARCILLANO v. THE HOUSE OF REPRESENTATIVES COMMITTEES ON PUBLIC INFORMATION, ET AL.

  • G.R. No. 171321 - MARY ANN DEHEZA-INAMARGA v. CELENIA C. ALANO, ET AL.

  • G.R. No. 171654 - THE PEOPLE OF THE PHILIPPINES v. EDWIN GAYETA Y ROBLO ALIAS "FREDDIE"

  • G.R. No. 171678 - ROSA J. SALES, ET AL. v. WILLIAM BARRO

  • G.R. No. 171812 - REMIA F. BONCALON v. OMBUDSMAN (VISAYAS), ET AL.

  • G.R. NOS. 171947-48 - METROPOLITAN MANILA DEVELOPMENT AUTHORITY, ET AL. v. RESIDENTS OF MANILA BAY, ET AL.

  • G.R. No. 172041 - GATEWAY ELECTRONICS CORPORATION, ET AL. v. ASIANBANK CORPORATION

  • G.R. No. 172192 - CHINA BANKING CORPORATION v. ASB HOLDINGS, INC., ET AL.

  • G.R. No. 172295 - LILIA P. LABADAN v. FOREST HILLS ACADEMY/NAOMI CABALUNA, ET AL.

  • G.R. No. 172457 - CJH DEVELOPMENT CORPORATION v. BUREAU OF INTERNAL REVENUE, ET AL.

  • G.R. No. 172776 - COMMISSION ON HIGHER EDUCATION v. ATTY. FELINA S. DASIG

  • G.R. No. 172848 - REPUBLIC OF THE PHILIPPINES v. JOSE VICTORINO K. CASTRO, ET AL.

  • G.R. No. 172849 - MR. TERESO TAN, ET AL. v. MANUEL "GUY" LINK, ET AL.

  • G.R. No. 172874 - PEOPLE OF THE PHILIPPINES v. MARIO CASTRO

  • G.R. No. 172973 - PEOPLE OF THE PHILIPPINES v. MARCELINO ABARE

  • G.R. No. 173052 - PEOPLE OF THE PHILIPPINES v. ROGELIO PELAGIO Y BERMUDO

  • G.R. No. 173473 - PEOPLE OF THE PHILIPPINES v. BETH TEMPORADA

  • G.R. No. 173473 - G.R. No. 173473 - AZCUNA - SEPARATE DISSENTING OPINION

  • G.R. No. 173473 - G.R. No. 173473 - VELASCO, JR. - DISSENTING OPINION

  • G.R. No. 173473 - G.R. No. 173473 - CORONA - SEPARATE OPINION

  • G.R. No. 173804 - ELPIDIO BONDAD, JR. Y BURAC v. PEOPLE OF THE PHILIPPINES

  • G.R. NOS. 173935-38 - ERLINDA K. ILUSORIO v. MA. ERLINDA I. BILDNER, ET AL.

  • G.R. No. 174103 - DEVELOPMENT BANK OF THE PHILIPPINES v. WEST NEGROS COLLEGE, INC.

  • G.R. No. 174109 - RURAL BANK OF THE SEVEN LAKES (S.P.C.), INC. v. BELEN A. DAN

  • G.R. No. 174136 - PHILIPPINE PORTS AUTHORITY, ET AL. v. NASIPIT INTEGRATED ARRASTRE AND STEVEDORING SERVICES, INC.

  • G.R. No. 174195 - PEOPLE OF THE PHILIPPINES v. CATALINO MINGMING Y DISCALSO

  • G.R. No. 174371 - PEOPLE OF THE PHILIPPINES v. WARREN DELA CRUZ Y FRANCISCO

  • G.R. No. 174988 - BANK OF THE PHILIPPINE ISLANDS v. SPS. HOMOBONO AND LUZDELDIA T. ARAMPI

  • G.R. No. 175339 - PREMIERE DEVELOPMENT BANK v. ALFREDO C. FLORES, ET AL.

  • G.R. No. 175527 - HON. GABRIEL LUIS QUISUMBING, ET AL. v. HON. GWENDOLYN F. GARCIA, ET AL.

  • G.R. No. 175554 - EDSEL LIGA v. ALLEGRO RESOURCES CORP.

  • G.R. No. 175929 - PEOPLE OF THE PHILIPPINES v. ROMMEL DELA CRUZ

  • G.R. No. 176141 - GERTRUDES NABUA, ET AL. v. DOUGLAS LU YM

  • G.R. No. 176219 - RENTOKIL (INITIAL) PHILIPPINES, INC. AND/OR RONAN GREANY, ET AL. v. LEILANI D. SANCHEZ

  • G.R. No. 176263 - PEOPLE OF THE PHILIPPINES v. MICHAEL MURO

  • G.R. No. 176609 - FERNANDO ESTABAS MAHAWAN ALIAS PADO v. PEOPLE OF THE PHILIPPINES

  • G.R. No. 176970 - ROGELIO Z. BAGABUYO v. COMMISSION ON ELECTIONS

  • G.R. No. 176981 - EDGAR GERASTA Y LAPUS v. PEOPLE OF THE PHILIPPINES

  • G.R. No. 177188 - EL GRECO SHIP MANNING AND MANAGEMENT CORPORATION v. COMMISSIONER OF CUSTOMS

  • G.R. No. 177656 - LINDA UY LIM v. HELEN O. TONG, ET AL.

  • G.R. No. 177742 - PEOPLE OF THE PHILIPPINES v. JOSELITO A. LOPIT

  • G.R. No. 177797 - SPOUSES PEDRO TAN AND NENA ACERO TAN v. REPUBLIC OF THE PHILIPPINES

  • G.R. No. 177931 - PHILIPPINE NATIONAL BANK v. DEANG MARKETING CORP, ET AL.

  • G.R. No. 177944 - JUDITH P. ORTEGA v. PEOPLE OF THE PHILIPPINES

  • G.R. No. 178198 - PEOPLE OF THE PHILIPPINES v. EVELYN BOHOL y TALAOGAN, ETC.

  • G.R. No. 178233 and G.R. NO. 180510 - JOSEPH A. GANDOL v. PEOPLE OF THE PHILIPPINES

  • G.R. No. 178306 - FRANCISCO R. NUNGA, JR., ET AL. v. FRANCISCO N. NUNGA, III

  • G.R. No. 178511 - MA. BELEN FLORDELIZA C. ANG-ABAYA, ET AL. v. EDUARDO G. ANG

  • G.R. No. 179127 - IN-N-OUT BURGER, INC. v. SEHWANI, INC. AND/OR BENITA'S FRITES, INC.

  • G.R. No. 179174 - REYNALDO MADRIGALEJOS v. GEMINILOU TRUCKING SERVICE, ET AL.

  • G.R. No. 179695 and G.R. No. 182369 - MIKE A. FERMIN v. COMMISSION ON ELECTIONS, ET AL.

  • G.R. No. 179813 - DATU PAX PAKUNG S. MANGUDADATU v. THE HOUSE OF REPRESENTATIVES ELECTORAL TRIBUNAL, ET AL.

  • G.R. No. 179878 - NEGROS ORIENTAL PLANTERS ASSOCIATION, INC. (NOPA) v. HON. PRESIDING JUDGE OF RTC-NEGROS OCCIDENTAL, BRANCH 52, BACOLOD CITY, ET AL.

  • G.R. No. 179895 - FERDINAND S. TOPACIO v. ASSOCIATE JUSTICE OF THE SANDIGANBAYAN GREGORY SANTOS ONG, ET AL.

  • G.R. No. 179898 - MAUNLAD HOMES, INC., ET AL. v. UNION BANK OF THE PHILIPPINES, ET AL.

  • G.R. No. 179922 - JUAN DE DIOS CARLOS v. FELICIDAD SANDOVAL, ET AL.

  • G.R. No. 180051 - NARDO M. VELASCO v. COMMISSION ON ELECTIONS, ET AL.

  • G.R. No. 180146 - P02 RUEL C. MONTOYA v. POLICE DIRECTOR REYNALDO P. VARILLA, ET AL.

  • G.R. No. 180501 - PEOPLE OF THE PHILIPPINES v. ROGER MENDOZA Y DELA CRUZ

  • G.R. No. 180730 - CARLOS GONZALES v. HON. JUDGE MERCEDES POSADA LACAP, ET AL.

  • G.R. No. 180926 - PEOPLE OF THE PHILIPPINES v. LOURDES V ALENCIANO Y DACUBA

  • G.R. No. 180986 - NORBERTO ALTRES, ET AL. v. CAMILO G. EMPLEO, ET AL.

  • G.R. No. 181492 - THE PEOPLE OF THE PHILIPPINES v. SAMUEL OBMIRANIS y ORETA

  • G.R. No. 181644 - HERMILINA N. ABAINZA v. ERNESTO ARELLANO, ET AL.

  • G.R. No. 181818 - EDGAR PERPETUO FERMIN E. HIPOL v. NATIONAL LABOR RELATIONS COMMISSION-FIFTH DIVISION, ET AL.

  • G.R. No. 182248 - EQUITABLE PCI BANKING CORPORATION, ET AL. v. RCBC CAPITAL CORPORATION

  • G.R. No. 182865 - ROMULO F. PECSON v. COMMISSION ON ELECTIONS, ET AL.

  • G.R. No. 182924 - PEOPLE OF THE PHILIPPINES v. JOSE PEREZ Y DALEGDEG

  • G.R. No. 183087 - PEOPLE OF THE PHILIPPINES v. IGNACIO ISANG Y LAGAY

  • G.R. No. 183456 - PEOPLE OF THE PHILIPPINES v. REGINO TORMIS

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    G.R. No. 174103 - DEVELOPMENT BANK OF THE PHILIPPINES v. WEST NEGROS COLLEGE, INC.

      G.R. No. 174103 - DEVELOPMENT BANK OF THE PHILIPPINES v. WEST NEGROS COLLEGE, INC.

    PHILIPPINE SUPREME COURT DECISIONS

    SPECIAL SECOND DIVISION

    [G.R. NO. 174103 : December 23, 2008]

    DEVELOPMENT BANK OF THE PHILIPPINES, Petitioner, v. WEST NEGROS COLLEGE, INC., Respondent.

    R E S O L U T I O N

    TINGA, J.:

    This treats of the Motion for Reconsideration1 dated October 17, 2008, filed by the Development Bank of the Philippines (DBP) seeking the reconsideration of the Court's Resolution2 dated September 16, 2008 in G.R. No. 174103. It should be recalled that the question submitted for the Court's resolution was whether the Court of Appeals was correct in ruling that the computation of the redemption price for the property subject of this case should be reckoned as of the date of the public auction on August 24, 1989 and that after this date, DBP can no longer collect interest from respondent West Negros College, Inc. (WNC). In our Resolution dated September 16, 2008, we held that the appellate court's ruling was consistent with the Decision of the Court in G.R. No. 152359 (which spawned the present case) and the present DBP charter, Executive Order No. 81 (E.O. No. 81).

    WNC filed an Opposition to the Motion for Reconsideration of Petitioner, dated November 12, 1998, asserting that DBP's motion is pro forma as it reiterates the arguments already passed upon by the Court. It further argues that the October 28, 2002 Decision and May 21, 2004 Resolution are already final and executory and may no longer be disturbed.

    After a closer scrutiny of its charter, we find that DBP's Motion for Reconsideration is meritorious and that it is entitled to collect accrued interest even after the foreclosure sale. The pertinent provision of E.O. No. 81 provides:

    Sec. 16. Right of Redemption.–Any mortgagor of the Bank whose real property has been extrajudicially sold at public auction shall, within one (1) year counted from the date of registration of the certificate of sale, have the right to redeem the real property by paying to the Bank all of the latter's claims against him, as determined by the Bank.

    The Bank may take possession of the foreclosed property during the redemption period. When the Bank takes possession during such period, it shall be entitled to the fruits of the property with no obligation to account for them, the same being considered compensation for the interest that would otherwise accrue on the account. Neither shall the Bank be obliged to post a bond for the purpose of such possession. (Emphasis supplied)cralawlibrary

    The above-quoted provision is substantially a re-enactment of Sec. 31 of Commonwealth Act No. 459, creating DBP's predecessor agency, the Agricultural and Industrial Bank. Sec. 31 thereof explicitly set the redemption price as the total indebtedness plus contractual interest as of the date of the auction sale, "with interest on the total indebtedness at the rate agreed upon in the obligation from said date."3 The phrase "with interest on the total indebtedness at the rate agreed upon in the obligation from said date" was, however, deleted in Sec. 16 of E.O. No. 81 which fixed the redemption price as "all of the latter's (Bank's) claims against him, as determined by the Bank." This deletion, together with the Court's Decision dated October 28, 2002 and Resolution dated May 21, 2004 in G.R. No. 152359, both of which held that WNC, "as the assignee of Bacolod Medical Center should pay the balance of the amount owed by the latter to DBP with interest thereon at the rate agreed upon as of the date of the public auction on 24 August 1989,"4 led the Court to conclude in the Resolution dated September 16, 2008 that contractual interest shall no longer accrue and form part of the total redemption price.

    However, we note the fact that the property subject hereof was foreclosed on January 30, 1989 and that DBP did not take possession of the property during the redemption period, as it has a right to do under its charter. Up to the present, in fact, WNC is in possession of the property.

    Under its charter, had DBP taken possession of the property, it would not be required to account for the fruits thereof, "the same being considered compensation for the interest that would otherwise accrue on the account." This phrase explicitly confers upon DBP the right to claim contractual interest on the account during the redemption period in line with the intent of the law to protect the government's investment in the lending institution.

    Finally, it should be emphasized that the immutability of the October 28, 2002 Decision and the May 21, 2004 Resolution in G.R. No. 152359 is in no way violated by this Resolution. The dispositive portion of the October 28, 2002 Decision recognizes DBP's entitlement to interest during the redemption period as it states that, "Respondent is given however a grace period of sixty (60) calendar days from notice of the finality of this Decision within which to redeem the mortgaged properties (Lots Nos. 1397-A and 1397-B-1 originally covered by Transfer Certificates of Title Nos. T-25053 and T-29169, respectively, improvements thereon and other properties subject of the mortgage and the extrajudicial foreclosure) if respondent so desires by paying petitioner Development Bank of the Philippines the balance of the credit of Bacolod Medical Center (as assumed by respondent West Negros College under a deed of assignment) secured by the properties plus the expenses and the agreed rate of interest, to be computed as of the date of the public auction on 24 August 1989, unless petitioner Development Bank of the Philippines has taken material possession of the properties in which case the proceeds of the properties shall compensate the interest but only during the period of their possession."5

    WHEREFORE, the Resolutions of the Court of Appeals in CA-G.R. CV No. 38277 dated July 5, 2006 and August 8, 2006 are REVERSED and SET ASIDE. Its Resolution dated February 14, 2006 is AFFIRMED. The Court of Appeals is DIRECTED to resume proceedings in the case with deliberate dispatch. No pronouncement as to costs.

    SO ORDERED.

    Endnotes:


    1 Rollo, pp. 243-256.

    2 Id. at 233-242.

    3 SEC. 31. The mortgagor or debtor to the Agricultural and Industrial Bank, whose real property has been sold at public auction, judicially or extra-judicially, for the full or partial payment of an obligation to said Bank, shall, within one year from the date of the auction sale, have the right to redeem the real property by paying to the Bank all the amount he owed the latter on the date of the sale, with interest on the total indebtedness at the rate agreed upon in the obligation from said date, unless the bidder has taken material possession of the property or unless this had been delivered to him, in which case the proceeds of the property shall compensate the interest. If the Agricultural and Industrial Bank was not the highest bidder at the auction sale, the Bank shall, in case of redemption, return to the bidder the amount it received from him as a result of the auction sale with the corresponding interest paid by the debtor. [Emphasis supplied]

    4 Development Bank of the Philippines v. West Negros College, Inc., 439 Phil. 943, 956 (2002).

    5 Id. at 343.

    G.R. No. 174103 - DEVELOPMENT BANK OF THE PHILIPPINES v. WEST NEGROS COLLEGE, INC.


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