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PACIFIC BASIN SECURITIES CO. v. ORIENTAL PETROLEUM

This case has been cited 3 times or more.

	GR No. 170458 2015-11-23	REPUBLIC v. VIRGILIO M. TATLONGHARI LEONEN, J.
The PCGG, as a mere conservator, does not automatically become the owner of a sequestered property in behalf of the government. There must be a final determination by the courts if the property is in fact "ill-gotten" and was acquired by using government funds. Thus, Ofriental] P[etroleum] and Minerals] Corporation] cannot conclusively claim that the subject shares are government property by virtue of a sequestration order on Piedras Petroleum. Such conclusion is non sequitur.[151] (Emphasis supplied)
	GR No. 181983 2013-11-13	CONSOLIDATED INDUSTRIAL GASES v. ALABANG MEDICAL CENTER REYES, J.
AMC is not entitled to actual damages representing interest payments on the loan it obtained from Metrobank in order to fund the installation projects. For damages to be recovered, the best evidence obtainable by the injured party must be presented. Actual or compensatory damages cannot be presumed, but must be proved with reasonable degree of certainty. The Court cannot rely on speculation, conjecture or guesswork as to the fact and amount of damages, but must depend upon competent proof that they have been suffered and on evidence of the actual amount. If the proof is flimsy and unsubstantial, no damages will be awarded.[56]
	GR Nos. 173090-91 2011-09-07	UNION BANK OF PHILIPPINES v. SPS. RODOLFO T. TIU AND VICTORIA N. TIU LEONARDO-DE CASTRO, J.
We have already held that the foreclosure of the mortgage was warranted under the circumstances. As regards the alleged exploitation by many banks of the Asian financial crisis, this Court rules that the generalization made by the appellate court is unfounded and cannot be the subject of judicial notice. "It is axiomatic that good faith is always presumed unless convincing evidence to the contrary is adduced. It is incumbent upon the party alleging bad faith to sufficiently prove such allegation. Absent enough proof thereof, the presumption of good faith prevails."[107] The alleged insidious design of many banks to betray their clients during the Asian financial crisis is certainly not of public knowledge. The deletion of the award of moral and exemplary damages in favor of the spouses Tiu is therefore in order.