UNION BANK V. PACIFIC EQUIPMENT CORP (CIVIL)

SUPERVENING EVENTS refer to facts which transpire after the judgment has become final and executory, or to new circumstances which develop after the judgment has acquired finality, including matters which the parties were not aware of prior to or during the trial, as they were not yet in existence at that time.

In such case, the court is allowed to admit evidence of new facts and circumstances and thereafter to suspend execution of the judgment and grant relief as may be warranted which may or may not result in its modification.

There is no supervening event in this case as it was an existing fact which petitioner ignored for the longest time, only to raise it later as a convenient excuse to evade its obligation under the writ of execution.