What constitutes a trust receipt transaction?

Trust receipt transactions are governed by the provisions of PD 115 which defines such a transaction as follows:

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G.R. No. 143772 DBP v. Prudential Bank November 22, 2005

Facts:

In 1973, Lirag Textile Mills, Inc. (Litex) opened an irrevocable commercial letter of credit with respondent Prudential Bank for US$498,000. This was in connection with its importation of 5,000 spindles for spinning machinery with drawing frame, simplex fly frame, ring spinning frame and various accessories, spare parts and tool gauge. These were released to Litex under covering trust receipts it executed in favor of Prudential Bank. Litex installed and used the items in its textile mill located in Montalban, Rizal.

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G.R. No. 164301 BPI v. BPI Employees Union-Davao August 10, 2010

Facts:

Bank of the Philippine Islands (BPI) moves for reconsideration of the Supreme Court’s Decision dated August 10, 2010, holding that former employees of the Far East Bank and Trust Company (FEBTC) “absorbed” by BPI pursuant to the two banks’ merger in 2000 were covered by the Union Shop Clause in the then existing collective bargaining agreement (CBA) of BPI with respondent BPI Employees Union-Davao Chapter-Federation of Unions in BPI Unibank (the Union).

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G.R. No. 77395 Belyca Corporation v. Dir. Calleja, et. al. November 29, 1988

Facts:

On June 3, 1986, private respondent Associated Labor Union (ALU)-TUCP, a legitimate labor organization, filed a petition for direct certification as the sole and exclusive bargaining agent of all the rank and file employees/workers of Belyca Corporation, a duly organized, registered and existing corporation, employing approximately 205 rank and file employees/workers.

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G.R. No. 160352 Republic v. Kawashima July 23, 2008

Facts:

On January 24, 2000, KFWU filed with DOLE Regional Office No. IV, a Petition for Certification Election to be conducted in the bargaining unit composed of 145 rank-and-file employees of respondent.

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G.R. No. 101083 Oposa, et. al. v. Factoran, et. al. July 30, 1993

Facts:

The controversy, in this petition, has its genesis in Civil Case No. 90-77 which was filed before Branch 66 (Makati, Metro Manila) of the Regional Trial Court (RTC), National Capital Judicial Region.

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G.R. No. L-56694 Heirs of Pedro Pinote v. Dulay, et. al. July 2, 1990

Facts:

On September 30, 1978, Francisco P. Otto, representing his mother Petra Pinote, filed in the CFI of Cebu, Branch XVI, at Lapu-Lapu City, a verified petition for reconstitution of the original certificate of title to Lot 2381 of the Opon Cadastre, which, as shown by a certified copy of the Municipal Index of Decrees, was supposedly adjudicated to Saturnino, Juana, Irineo, Pedro, and Petronilo, all surnamed Pinote, under Decree No. 230607 dated May 7, 1934 in Cadastral Case No. 20, LRC Rec. No. 1004.

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