G.R. No. 166836. September 4, 2013.
Petitioner purchased 130 residential lots from BF Homes represented by Atty. Florencio B. Orendain (Orendain) as its duly authorized rehabilitation receiver appointed by the Securities and Exchange Commission (SEC), the transactions were embodied in three separate deeds of sale.
BF Homes claimed that it withheld the delivery of the 20 TCTs for parcels of land purchased under the third deed of sale because Atty. Orendain had ceased to be its rehabilitation receiver at the time of the transactions. BF Homes refused to deliver the 20 TCTs despite demands.
San Miguel Properties filed a complaint-affidavit in the Office of the City Prosecutor of Las Piñas City charging respondent directors and officers of BF Homes with non-delivery of titles in violation of Section 25, in relation to Section 39, both of Presidential Decree No. 957.