- Petitioner
- Allied Banking Corporation
- Respondent
- Court of Appeals
- Citation
- G.R. No. 85868
- Court
- Supreme Court
- Division
- First Division
- Ponente
- Gancayco, J.
- Decided
- October 13, 1989
Summary
Allied Banking Corporation filed a collection suit against Joselito Yujuico for an unpaid P500,000 promissory note originally issued to GENBANK, which Allied acquired during GENBANK's liquidation. Yujuico attempted to file a third-party complaint against Central Bank and the liquidator, claiming tortious interference prevented his performance. The trial court denied admission of the third-party complaint, but the Court of Appeals reversed, finding grave abuse of discretion. The Supreme Court ultimately sustained the trial court's denial, ruling that while the third-party complaint met the technical requirements for admission under procedural rules, the cause of action for quasi-delict had prescribed under the four-year limitation period in the Civil Code, having accrued in 1977 but filed only in 1987.