HEIRS OF PATRICIO ASUNCION, NAMELY, EMILIANA, CONRADO, ROSALINA AND HERMINIA, ALL SURNAMED ASUNCION, REPRESENTED BY EMILIANA FLORO ASUNCION, PHIL-VILLE DEVELOPMENT HOUSING CORPORATION, MOLDEX PRODUCTS, INC., REPRESENTED BY JACINTO T. UY, AND SPEED MIX, INC., REPRESENTED BY WINIFRED G. GOB, PETITIONERS, VS. EMILIANO DE GUZMAN RAYMUNDO, RESPONDENT