Facts:

• Petitioners: James L. King and Diosdado Retuya.
• Filed a complaint for sum of money with damages against Roderick Lim Go, Grace Tan Go, and their businesses (L.T. & Sons, Inc., Butuan Premier Distribution, Inc., Supreme Theater Corporation, Tan Enterprises, Inc.).
• King was persuaded to invest P61,280,000 with a promise of 1% daily interest; Retuya invested P500,000.
• Regional Trial Court issued a writ of preliminary attachment after petitioners posted a bond.
• Sheriff executed the writ, leading to the private respondents' offices being padlocked.
• Private respondents filed an Omnibus Motion to dismiss the complaint and quash the writ.
• Petitioners sought a Break Open Order and military assistance.
• Private respondents filed a petition for certiorari with the Supreme Court, which was dismissed for procedural issues.
• They later filed with the Court of Appeals, which issued a Temporary Restraining Order, later converted to a preliminary injunction.
• Appellate court ruled that fraud was solely by the spouses Go; corporate entities were not liable.
• Petitioners filed a petition for certiorari with the Supreme Court to nullify the appellate court's resolutions.

Issue:

• (Unlock)

Ruling:

• The Supreme Court dismissed the petition for certiorari, stating the case had become moot and academic due to th...(Unlock)

Ratio:

• The Supreme Court determined that the petitioners' claims were moot and academic because the appellate court's final injunction nullified the trial court's writ of preliminary attachment.
• A case is moot when it no longer presents a j...continue reading