Radiola-Toshiba Philippines, Inc. Vs. The Intermediate Appellate Court

Radiola-Toshiba Philippines, Inc. through its assignee-in-insolvency, Vicente J. Cuna, Petitioner

Vs.

The Intermediate Appellate Court, Hon. Leonardo I. Cruz, as Judge of the Regional Trial Court of Angeles City, Branch No. LVI. Emilio C. Patino, as assignee-in-insolvency of Carlos and Teresita Gatmaytan, Sheriff of Angeles City, Register of Deeds of Angeles City, Sanyo Maketing Corp., S&T Enterprises Inc., Refrigeration Industries Inc., and Delta Motor Corp., Respondents


G.R. No. 75222, July 18, 1991


Facts:

On March 4, 1980, Petitioner obtained a levy of attachment against the properties of spouses Carlos and Teresita Gatmaytan for a collection of sum of money before the RTC of Pasig. On July 2, 1950, Three creditors, herein respondents filed a petition for involuntary insolvency of spouses Gatmaytan in Pampanga and Angeles City.

On December 10, 1980, Petitioner obtained a favorable judgment as the writ of execution was issued in its favor. On September 21, 1981, the court ordered the consolidation of ownership of petitioner over said properties. However, the Sheriff of Angeles City refused to issue a final certificate of sale in favor of the petitioner in view of the insolvency proceedings before the Pampanga and Angeles RTC.

Issue:

Whether or Not the levy of attachment in favor of the petitioner is dissolved by the insolvency proceedings against respondent spouses, commenced four months after said attachment.

Held:

The Provision of Section 32 of the Insolvency Law (Act. No. 1956) is very clear that attachments dissolved are those levied within one month next proceeding the commencement of insolvency proceedings and judgments vacated and set aside, are judgments entered in any action, including judgment entered by default or consent of the debtor, where the action was filed within 30 days immediately prior to the commencement of the insolvency proceedings. In short, there is a cut-off period - 1 month in attachment cases and 30 days in judgments entered in actions commenced prior to insolvency proceedings. Section 79 relied upon by private respondent is not in conflict with that provision invoked by petitioner.

But even granting that such conflict exists, it may be stated that in construing a statute, courts should adopt a construction that will give effect to every part of a statute, it at all possible. This rule is expressed in the maxim, UT RES MAGIS VALEN QUAM PEREAT or that construction is to be sought which gives effect to the whole of the statute. Its every word. Hence, when a statute is susceptible of more than one interpretation the court should adopt such reasonable and beneficial construction as will render the provision thereof operative and effective and harmonious with each other.

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