G.R. No. 185082 - MANDAUE REALTY & RESOURCES CORPORATION AND MANDAUE CITY REGISTER OF DEEDS, VS. THE COURT OF APPEALS AND BANGKO SENTRAL NG PILIPINAS.D E C I S I O N - Supreme Court E-Library

Ruling

WHEREFORE, judgment IS hereby rendered dismissing Gotesco's original complaint and the counterclaim of BSP for being moot and academic; and on the complaint-in-intervention, and annulling: The Deed of Absolute Sale (Annex "B", Marreco complaint) executed by Marreco in favor of Gotesco; The Deed of Real Estate Mortage executed by Ever Electrical and Manufacturing, Inc. and Gotesco Properties, Inc. in favor of Orient Commercial Banking Corporation dated January 13, 1998 over TCT No. 41450, Register of Deeds, Mandaue City (Annex "B", Gotesco Amended Complaint); The Deed of Assignment executed by Orient Commercial Banking Corporation in favor of Bangko Sentral ng Pilipinas dated January 9, 1998 in TCT No. 41450 (Annex ''E", Marreco Complaint); The Certificate of Sale executed by Atty. Joseph Boholst in favor of Bangko Sentral ng Pilipinas dated September 20, 1998 in TCT No. 41450 (Annex "C", Gotesco Complaint); The Affidavit of Consolidation executed by Bangko Sentral ng Pilipinas dated September 26, 2000, annotated in TCT No. 41450, Annex "F" (Marreco Complaint). The Court further orders: The cancellation of TCT No. 41450 issued in the name of Gotesco Properties, Inc. (Annex "A", Gotesco Complaint); The restoration or reinstatement of TCT No. 40447 in the name of Mandaue Realty and Resources Corporation (Annex "A", Marreco Complaint) and cancelling annotations under Entry Nos. 5184, 5185, 5186, and 5187, all inscribed on August 21, 1997 in the Memorandum of Encumbrances thereof; Gotesco Properties, Inc. to pay to Mandaue Realty and Resources Corporation the sum of P1,000,000.00 for and as attorney['s] fees. SO ORDERED.