TL;DR — Ruling
WHEREFORE, judgment is hereby rendered in favor of plaintiff. Defendant Subic Bay Waterfront Development Corporation is hereby ordered TO PAY plaintiff Gomeco Metal Corporation the following: Its outstanding principal obligation in the amount of [PHP] 1,823,019.00, plus penalty at the rate of 12% per annum from December 15, 1997, until full payment; [PHP] 100,000.00 as attorney's fees; and Costs of the suit.
Accordingly, the RTC ruled that Gomeco's right of action against SBYC had prescribed. [17] Thus, with Gomeco's cause of action against SBYC having prescribed, only SBWDC was made liable in the RTC Decision. The dispositive portion of the RTC Decision states: WHEREFORE, judgment is hereby rendered in favor of plaintiff. Defendant Subic Bay Waterfront Development Corporation is hereby ordered TO PAY plaintiff Gomeco Metal Corporation the following: Its outstanding principal obligation in the amount of [PHP] 1,823,019.00, plus penalty at the rate of 12% per annum from December 15, 1997, until full payment; [PHP] 100,000.00 as attorney's fees; and Costs of the suit. SO ORDERED.