G.R. NOS. 175181-82 - METROPOLITAN BANK AND TRUST COMPANY, INC., VS. SLGT HOLDINGS, INC., DANILO A. DYLANCO AND ASB DEVELOPMENT CORPORATION.G.R. NOS. 175354 & 175387-88UNITED COCONUT PLANTERS BANK, VS. SLGT HOLDINGS, INC. AND ASB DEVELOPMENT CORPORATION.D E C I S I O N - Supreme Court E-Library

Ruling

WHEREFORE, the appeals are dismissed for lack of merit and the decision of the office below is modified as follows: Declaring the mortgage over the subject condominium unit in favor of respondent [Metrobank] as null and void for violation of Section 18 of [PD] No. 957; Directing respondent bank to cancel/release the mortgage on the subject condominium unit [Unit 1106]; and accordingly, surrender/release the title thereof to the complainant; Directing respondent Bank to release to respondent ASB the transfer certificate of title of the lots covering the BSA Twin Towers Project; directing ASB to cause the subdivision of the mother titles into condominium certificates of tile within 90 days and to thereafter deliver title to complainant [Dylanco] free from all liens and encumbrances; [and] Ordering respondent ASB to complete the subject condominium project as per SEC Order dated 03 November 2004. (Words in brackets added) On the other hand, the HLURB decision [11] on the SLGT case, docketed as REM-A-050208-0020, was, on all material points, of the same tenor as in the Dylanco case, albeit the unit involved is different and the banks referred to in SLGT are UCPB and Metrobank. From the HLURB resolutions in REM-A-050208-0020 and REM-A-050208-0021, Metrobank appealed to the OP, followed by UCPB's own appeal from the resolution in REM-A-050208-0020. Owing to the obvious similarities in both cases, the OP had them consolidated, the Dylanco case docketed as O.P. Case No. 05-F-212 and the SLGT case as O.P. Case No. 05-F-215. On October 10, 2005, the OP rendered a decision [12] against Metrobank and UCPB, disposing as follows: WHEREFORE , premises considered, the appeals filed by Metropolitan Bank and Trust Company and the United Coconut Planters Bank are hereby DISMISSED for lack of merit. SO ORDERED.