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PHILIPPINE SUPREME COURT JURISPRUDENCE | THE 2010 PRE-WEEK BAR EXAM NOTES ON LABOR LAW | | | Search for www.chanrobles.com-------------------------------------------------
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Home > ChanRobles Virtual Law Library > Philippine Supreme Court Jurisprudence > G.R. No. L-21000, 21002-21004, and 21006 |
EN BANCG.R. Nos. L-21000, 21002-21004, and 21006 December 20, 1924In the matter of the involuntary insolvency of Umberto de Poli. BANK OF THE PHILIPPINE ISLANDS, ET AL.,claimants-appellees, vs. J.R. HERRIDGE, assignee of the insolvent estate of U. de Poli, BOWRING and CO., C.T. BOWRING and CO., LTD., and T.R. YANGCO, creditors-appellants. OSTRAND, J.: chanrobles virtual law libraryThe present appeals, all of which relate to the Insolvency of U. de Poli, have been argued together and as the principal questions involved are the same in all of them, the cases will be disposed of in one decision.chanroblesvirtualawlibrary chanrobles virtual law libraryThe insolvent Umberto de Poli was for several years engaged on an extensive scale in the exportation of Manila hemp, maguey and other products of the country. He was also a licensed public warehouseman, though most of the goods stored in his warehouses appear to have been merchandise purchased by him for exportation and deposited there by he himself.chanroblesvirtualawlibrary chanrobles virtual law libraryIn order to finance his commercial operations De Poli established credits with some of the leading banking institutions doing business in Manila at that time, among them the Hongkong & Shanghai Banking Corporation, the Bank of the Philippine Islands, the Asia Banking Corporation, the Chartered Bank of India, Australia and China, and the American Foreign Banking Corporation. The methods by which he carried on his business with the various banks was practically the same in each case and