The Court of Appeals (CA) ruled that there was no grave abuse of discretion on the part of the Regional Trial Court of Makati (RTC) Branch 146 when it denied for lack of jurisdiction the application for temporary restraining order (TRO)/injunction filed by Pacific Rehouse Corp., Forum Holdings Corp., East Asia Oil Company, Inc., Pacific Concorde Corp., and Mizpah Holdings, Inc. (Pacific Rehouse et al.) against the Philippine Deposit Insurance Corporation (PDIC) and the closed Export and Industry Bank (EIB) that aimed to stop the bidding for the rehabilitation of the shuttered bank.
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