Philippine Commercial And Industrial Bank v. Escolin

BARREDO, J.:

Motion for reconsideration followed by a supplemental motion for reconsideration filed by petitioner-appellant Philippine Commercial and Industrial Bank and motion for modification filed by Joe Hodges and "the other heirs of Charles Newton Hodges" in regard to the decision of this Court of March 29, 1974. Upon consideration of said motions, the Court has not found any new matter therein sufficiently persuasive to induce a modification of its judgment, for which reason, the Court, with its members reaffirming their previous opinions and votes, resolved unanimously to DENY as it hereby DENIES the motions for reconsideration and modification above referred to.

Anent the motion of respondent-appellee Avelina Magno for the assessment of the damages she claims she and the Estate of Linnie Jane Hodges have suffered by reason of the preliminary injunction in this case which was lifted per resolution of the Court of September 8, 1972, the Court resolved to authorize the trial court to make the assessment prayed for, subject to appeal, to this Court, if necessary.ℒαwρhi৷ Considering the substantial value of the subject estates and the length of time they have already been pending judicial settlement and for the reason that the payment of the corresponding taxes thereon are being unduly delayed, and also because the properties of said estates have to be disposed of in favor of Filipinos before May 27, 1976, the Court enjoins the parties to exert all efforts to have the inventories of said estates finalized without further delay, and if possible to extrajudicially settle their remaining differences to avoid further complications, expenses and unnecessary loss of time.

The respondent court is directed to expedite proceedings by giving due priority thereto, requiring the parties to submit the inventories within thirty days from notice hereof, and to resolve the remaining issues as delineated in the Court's decision and to close the proceedings upon payment of the corresponding taxes within three months from notice hereof. Respondent judge is further directed to report to this Court from time to time the action taken by him hereon. Castro, Actg., C.J., Fernando, Muñoz Palma, Aquino and Martin, JJ., concur.

Makalintal, C.J., Esguerra and Concepcion, Jr., JJ., are on leave.