1 Belisle Investment & Finance Co. & Smith Bell V. State Investment House & IAC.

2 No. L-71917 June 30, 1987.

3
4 Facts:
5  State Investment House (SIH) agreed to extend financial assistance to Belisle (with
6 Promissory Notes).
7  Smith Bell executed in favor of SIH a comprehensive surety agreement the full and
8 punctual payment at maturity to SIH. Belisle failed to pay its obligation despite demands
9  A complaint w/ preliminary attachment was filed by SIH against petitioners. An order of
10 attachment was issued.
11  Petitioners filed a motion to discharge attachment and posted a counterbond.
12  Before the judge could resolve the motion to discharge, petitioners filed a petition for
13 certiorari, prohibition & mandamus with preliminary injunction and TRO in the SC. The
14 SC issued a TRO and referred the case to the IAC. Petition was denied due course by the
15 CA.
16
17 Issue: Whether the IAC has so far departed from the accepted and usual course of judicial
18 proceedings or so far sanctioned such departure by the lower court by failing to timely restrain
19 enforcement of a writ of attachment pending approval of sufficient counterbond resulting to
20 excessive levy.
21 Held: NO.
22 Ratio: There is nothing in the ROC w/c makes notice & hearing indispensable & mandatory
23 requisites in the issuance of a writ of attachment or in the failure of respondent Judge to
24 restrain the enforcement of a writ of attachment upon petitioner’s posting of a counterbond.