Arnold, Jake and Burgos, all residing in #2 Serendra, Bonifacio Global City, Taguig,

were partners in the restaurant Burger & Brewskies. The three called their partnership
Tres Amigos. The land upon which the Burger & Brewskies restaurant was located
(which was in Bonifacio Global City, Taguig) was owned by Tres Amigos.
 
One day, Burgos asked Arnold and Jake if he could borrow money. Burgos told them
that he needed the money to buy a piece of land he thinks is a good investment. Since
Arnold and Jake couldn’t provide cash, they told Burgos that he could mortgage the
land of Tres Amigos to raise money. The partners thus signed a Special Power of
Attorney (SPA) in favor of Burgos, allowing him to mortgage the land. With the SPA,
Burgos went to Bataan Rural bank and got a loan in his name with the Tres Amigos’
land being mortgaged. The bank’s principal place of business is in Balanga, Bataan.
 
A year later, however, Burgos was not able to settle his loan obligations. The bank
foreclosed the land and sold it at auction. When the proceeds of the auction was not
enough to answer for the debt, the bank filed with the RTC of Manila a collection case
against Jake, Arnold and Tres Amigos for the balance of P9Million.
 
In a 01 December 2017 Decision, the RTC ruled in favor of the bank and ordered Jake,
Arnold and Tres Amigos solidarily liable for P9Million plus legal interest from 01
December 2017. The RTC reasoned that with the SPA, Jake, Arnold and Tres Amigos
should also be deemed liable for the loan.
 
A Motion for Reconsideration was filed by Jake and Arnold on 02 December 2017 but
was denied by the RTC on 05 December 2017.
 
Jake and Arnold wants to appeal the case