Conflict - Philsec Investment vs. CA

 

PHILSEC INVESMENT CORP. vs. CA

G.R. No. 103493; June 19, 1997 Facts: Ventura Ducat obtained separate oans in t!e su" o# $.%" doars #ro" &'&(& and )*+(- )*+( secured b/ s!ares s!ares o# stocs stocs o# Ducat it! a "aret 2aue o# )14" . o pa/ t!e oan, anot!er respondent, 14, +N. t!ru its president Daic assu"ed Ducats obi5ation !ereb/ it sod to &*6N&, &*6N&, +nc. a parce o# and in *arris ount/, eas eas #or $." $. " doars !ie )*+(- ) *+(- and &'&(& etended a oan to &*6N& ort! $.%" doars as initia pa/"ent o# t!e purc!ase  price. &*6N& eecuted a pro"issor/ note in #a2or o# 14, +nc. #or t!e baance o# 3008  doars $.$.% 300 8?'-. &*6N& #aied to pa/ t!e interest on t!e baance !ic! "ade t!e entire a"ount due and de"andabe. 14 +nc. sued )*+(-, &'&(& and &*6N& in t!e @ #or t!e pa/"ent o# t!e  baance o# @A 307, $09.$0 and #or da"a5es #or breac! o# contract and #or #raud ae5ed/  perpetrated b/ petitioners in "isrepresentin5 t!e "aretabiit/ o# t!e s!ares dei2ered to it. &*6N& #ied an anser it! countercai", i"peadin5 pri2ate respondents !erein as counter  de#endants, #or ae5ed/ conspirin5 in sein5 t!e propert/ at a price o2er its "aret 2aue. B!ie t!e i2i ase as pendin5 in t!e @nited tates, 'etiti(ne)s *i#e+ a "(m'#aint ,() Sum (* M(ne% it &amages an+ 0)it (* P)e#imina)% Atta"ment against ')ivate )es'(n+ents in te RTC Ma2ati.  !e co"paint reiterated t!e ae5ation o# petitioners in t!eir  respecti2e countercai"s in t!e i2i &ction in t!e @nited tates District ourt o# out!ern eas eas t!at pri2ate respondents co""itted #raud b/ sein5 t!e propert/ at a price 400 percent "ore t!an its true 2aue o# @A00,000.00. &n5 and an5 5ipertain diri na o2erpriced