VS. COURT OF APPEALS AND PILIPINAS BANK.

Ruling

Wherefore, in order to maintain the status quo in the instant proceeding so that the petition for relief may not become moot and academic, Deputy Sheriff Voltaire Cruz is ordered to desist from enforcing or executing further the writ of execution issued by the Court on 28 October 1981. Upon defendants filing a counterbond in the sum of P2,200,000.00 as security for plaintiffs claim, let an order issue lifting the writ of attachment earlier issued against defendants properties." (p. 109, Vol. I, Expediente of Civil Case No. 39519) 5. On 25 November 1981, the Court issued an Order (Exh. G) in Civil Case No. 39519, as follows: "Acting upon defendants Urgent Motion for the Approval of Counter-Bond which was not opposed by plaintiff, and finding said counterbond posted by First Integrated Bonding & Insurance Co., Inc. under JCL (3) Bond No. 00049 to in order, the same is hereby approved. Deputy Sheriff Voltaire Cruz is ordered to immediately lift all levies made by him on defendants personal as well as real properties by virtue of the writ of attachment previously issued hereof and to likewise return to said defendants any and all properties he may have in his possession. . . ." (p. 197, Vol. I, Expediente of Civil Case No. 39519; italics supplied) Interestingly and relevantly, the counterbond abovementioned was posted by herein defendant FIBICI; such posting resulted in the lifting of the levies on the properties which defendant FIBICI later on bid for at the sheriffs auction sale on 28 December 1983 (item 16, below). 6. On 1 December 1981, Entry No. 50428 (Exhs. C-3 [see back of page 196-B, Record], D-3 and E-3) was inscribed on the subject CCTs, whereby Entry No. 49260 (item 3, above; Exhs. C-2, D-2 and E-2) was cancelled, with a mention of the abovequoted order of 25 November 1981, as follows: xxx xxx xxx It is to be noted that the order of 25 November 1981 (item 4, above) was inscribed two times: on 1 December 1981, on 13 December 1983 (item 15, below). 7. On 3 March 1982, the plaintiff Pilipinas Bank instituted an action with the then Court of First Instance of Rizal, Branch VI, against OII, and/or Tomas Mapa, for the recovery of P6,174,045.00, with a prayer for the issuance of a writ of preliminary attachment, docketed therein as Civil Case No. 45005; (Annex B of Amended Complaint, pp. 98-105, Record.) 8. On 12 March 1982, a Writ of Attachment was issued by the then Court of First Instance of Rizal, Branch VI, in said Civil Case No. 45005 (Annex C of Amended Complaint, pp. 108-109, id.). 9. On 18 March 1982, a Notice of Levy on Execution was inscribed as Entry No. 53789 on said CCTs (Exhs. C-4, D-4 and E-4) pursuant to the "NOTICE OF LEVY ON EXECUTION/ATTACHMENT" executed by Deputy Sheriff Elias T. Marfil, under Civil Case No. 45005 (Annex D of Amended Complaint, pp. 110-111, id.). It is to be noted that, while the Court (see item 8, above) issued a writ of attachment, what the sheriff prepared and filed was a "notice of levy on executio