To secure the concessionaires performance of its obligations, Maynilad was required under Section 6.9 of said contract to put up a bond, bank guarantee or other security acceptable to MWSS. JFACTS: MWSS granted Maynilad under a Concession Agreement to manage, operate, repair, decommission and refurbish the existing MWSS water delivery and sewerage services in the West Zone Service Area, for which Maynilad undertook to pay the corresponding concession fees which, among other things, consisted of payments of petitioners mostly foreign loans. In case of default in the payment of any installment, the total principal sum, together with the interest, shall become immediately due and payable. RTC Las Pinas dismissed ->Petition for review on certiorari dismissed ->MR granted FACTS: - Leticia Laus purchased on credit a Colt Galant (4 door sedan automobile) xxx from Fortune Motors Corporation PHL and executed a promissory note for the amount of P56,028.00, inclusive of 12% annual interest, payable within a period of 48 mos. San Luis (petitioner) seeking to set aside the Resolutions dated September 11, 20021 and May 20, 20032 of the Court of Appeals (CA) in CA -G.R. 159127 MaAUSTRIA-MARTINEZ, J.: T OPIC IN S YLLABUS : Creditor-Mortgagor Replevin HOW THE CASE REACHED THE SC: Before us is a petition for certiorari under Rule 65 of the Rules of Court filed by Ramon Gerardo B. 70, Pasig City and BERDEX INTERNATIONAL INC. ROJAS in his capacity as Presiding Judge, RTC.
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