A CON JOB IN QUEZON, part 3

We are now also drafting another supplemental letter to the Board of Directors of DBP informing the bank that the Suarez Family is also the owner of Suarez Agro-Industrial Development Corporation.

Suarez Agro-Industrial Development Corporation entered into a Contract of Lease with DBP over an acquired asset (ice plant) located in Brgy. Biyan, Calauag, Quezon.  The Suarez Agro-Industrial Development Corporation failed to pay DBP rentals in the amount of P650,000.00.

There is no showing that this amount has been paid by Suarez Agro-Industrial Development Corporation with the DBP and a clearance therefor has been issued.  DBP sold the property to Jose Sy Bang.  Sy Bang having thus entered into the shoes of DBP filed a recovery of possession suit against Suarez Agro-Industrial Development Corporation.

For no apparent reason, Judge Antonio Mendez of the Regional Trial Court of Gumaca, Branch 62 issued a Temporary Restraining Order conditioned though with a filing of an injunction bond.  Sy Bang’s right to possession was stymied because of the TRO.  Upon Sy Bang’s inquiry with the RTC, the Suarez Agro-Industrial Development Corporation had not yet complied with the filing of the injunction bond.

A motion was filed by Sy Bang to lift the TRO for lack of an injunction bond.  For no apparent reason, an injunction bond was produced by the counsel of Suarez Agro-Industrial Development Corporation, Atty. Vicente M. Joyas[1] without notice to Sy Bang or counsel.  It was however found by the Supreme Court to be spurious; hence, it directed the National Bureau of Investigation (NBI) to investigate[2].

Perhaps by informing DBP of these particulars, it will revisit the approval of the said loan.

[2] JOSE SY BANG and ILUMINADA TAN, complainants, vs. JUDGE  ANTONIO  MENDEZ and ATTY. VICENTE JOYAS, respondents [A.M. No. RTJ-94-1257.  March 6, 1998]