G.R. No. 206459 - SPOUSES FLORANTE E. JONSAY AND LUZVIMINDA L. JONSAY AND MOMARCO IMPORT CO., INC., VS. SOLIDBANK CORPORATION (NOW METROPOLITAN BANK AND TRUST COMPANY).D E C I S I O N - Supreme Court E-Library

Ruling

Wherefore, premises considered, judgment is rendered in favor of the [petitioners] and against the defendants] by: 1) Declaring the extra-judicial foreclosure proceedings NULL and VOID and without any legal effect and the defendants are prohibited to consolidate the titles in the name of [Solidbank] without prejudice to the filing of the action for collection or recovery of the sum of money secured by the real estate mortgage in the proper forum; 2) Ordering that the interest rates on the [petitioners'] indebtedness be reduced to 12% per annum; 3) Declaring that the attorney's fees and filing fee being collected by [Solidbank] to be devoid of any legal basis; 4) Ordering [Solidbank] to pay the [petitioners] the following sums, to wit: a) Php20,000,000.00 - moral damages; b) Php2,500,000.00 - exemplary damages; c) Php1,[500],000.00 - for attorney's fees. 5) Ordering the dismissal of the counterclaim for lack of merit. SO ORDERED.