Filipro v. Permanent Savings & Loan Bank Thru Its Duly Appointed Receiver/Liquidator

Summary

This case involves a complex banking dispute arising from an altered check scheme. An employee stole and altered a check payable to Filipro Inc., depositing it at Permanent Savings & Loan Bank which was later cleared. Multiple lawsuits ensued, with Permanent Savings being declared in default. The parties eventually entered a compromise agreement approved by the trial court, directing payment of P547,000.00 to Filipro. When Permanent Savings challenged this years later through certiorari, the Court of Appeals dismissed the petition as filed late but still ordered the amounts remitted to the bank's receiver. The Supreme Court reversed, emphasizing the fundamental principle that final and executory judgments are immutable and unalterable. The Court held that the Court of Appeals contradicted itself by acknowledging the judgment's finality while simultaneously modifying it. This case reinforces the doctrine of finality of judgments as essential to effective judicial administration and the orderly resolution of disputes.