Case Digest: LBP vs Montinola-Escarilla and Co Inc GR No 178046
LBP vs Montinola-Escarilla and Co., Inc. GR No 178046 June 13, 2012 Facts: Montinola-Escarilla and Co., Inc., (MECO) is the owner of a parcel of agricultural land covered by OCT No. T-70 with an area of 159.0881 hectares was acquired by the government under RA 6657. LBP initially valued the subject land at P 823,204.08 but MECO rejected the valuation. Pending summary administrative proceedings for determination of just compensation before the RARAD, MECO filed a complaint for determination of just compensation before the RTC which appointed 4 Board of Commissioners (BOC) to evaluate and appraise the just compensation for the subject property covering 4.4825 hectares of rainfed rice land and 154.6056 hectares of idle land. Then the R...