G.R. No. 119652 - VENTURA O. DUCAT, VS. THE COURT OF APPEALS, HONORABLE ARSENIO J. MAGPALE, IN HIS CAPACITY AS PRESIDING JUDGE OF THE REGIONAL TRIAL COURT OF MAKATI, BRANCH 57, AND PAPA SECURITIES CORPORATION.[A.M. NO. P-00-1358. JANUARY 20, 1999]VENTURA O. DUCAT COMPLAINANT, VS. SHERIFF ROLANDO D.

Ruling

accordingly renders judgment in favor of the plaintiff and ordering the defendant to pay the plaintiff the principal amount of P3,159,253.37 with interest thereon at 14% per annum from August 25, 1983 until full payment, service fees of 1/2% of the debit balance computed monthly, attorneys fee and the expenses of litigation in an amount equivalent to 25% of the amount due and the cost of this suit." The aforesaid Decision became final and executory on January 22, 1992, after appeals therefrom to the Court of Appeals and to this Court failed. Respondent corporation then presented a Motion for Execution, which was granted below on June 18, 1992. On July 10, 1992, the shares of stock of petitioner in "Papa Securities" were levied upon and sold for Three Hundred Sixty Thousand ( P 360,000.00) Pesos to Myron Papa. Ten days later, petitioners Ayala Alabang house and lot covered by Transfer Certificate of Title No. S-78185 was levied and sold for Eight Million ( P 8,000,000.00) Pesos. On September 7, 1992, petitioners house and lot in Wack Wack, Mandaluyong, Metro Manila ("Wack Wack Property") was also sold on execution by Sheriff Rolando D. Carpio ("Sheriff Carpio") to satisfy the unpaid balance of the judgment debt amounting to Thirteen Million One Hundred Six Thousand Five Hundred Seventy-Seven and 11/100 ( P 13,106,577.11) Pesos. "Papa Securities" emerged as the highest bidder for Thirteen Million Two Hundred Ninety-Four Thousand Two Hundred Sixty-Four Pesos and 31/100 ( P 13,294,264.31) Pesos. On September 9, 1992, Sheriff Carpio issued a Certificate of Sale [4] in favor of "Papa Securities" to the effect that the latter did not pay anymore the bid price to the Sheriff but just credited or applied the same to the balance of the judgment debt. Said Certificate of Sale was annotated on the back of the Transfer of Certificate of Title covering the Wack Wack Property. On September 10, 1993, the trial court issued a writ of possession to "Papa Securities" after the expiration of petitioners period of redemption. Meanwhile, petitioner consulted his former counsel, who discovered that the judgment debt amounted to Thirteen Million Seven Hundred Eighty-Nine Thousand Nine Hundred Sixty-Four and 73/100 ( P 13,789,964.73) Pesos only and not the Twenty-One Million Six Hundred Fifty-Four Thousand Two Hundred Sixty-Four and 31/100 ( P 21,654,264.31) Pesos levied and collected by "Papa Securities". On September 14, 1993, petitioner presented an Urgent Omnibus Motion [5] To Annul Execution Sale Conducted on 7 September 1992; To Reconsider and Set Aside the Order dated 10 September 1993; and To Hold in Abeyance the Implementation of the Writ of Possession and Notice to Vacate of 10 September 1993, but the same was denied by the trial court in its Order [6] of November 3, 1993. Petitioner questioned such denial in a Petition for Certiorari, docketed as CA-G.R. SP No. 32568 before the Court of Appeals. On January 31, 1994, the Court of Appeals handed down a Decis