G.R. No. 165548 - PHILIPPINE REALTY AND HOLDINGS CORPORATION, VS. LEY CONSTRUCTION AND DEVELOPMENT CORPORATION. [G. R. No. 167879] LEY CONSTRUCTION AND DEVELOPMENT CORPORATION, VS. PHILIPPINE REALTY AND HOLDINGS CORPORATION. D E C I S I O N - Supreme Court E-Library

Ruling

WHEREFORE, it is respectfully prayed that: 1. Immediately upon the filing of this Complaint, an order of preliminary attachment be issued over defendant Philrealty's properties as security for any judgment which plaintiff may recover against said defendant; and 2. After trial, judgment be rendered as follows: 2.1. On the first, second and third alternative causes of action, (a) Ordering defendant Philrealty to pay plaintiff actual damages in the amount of P36,000,00.00 with legal interest thereon from the filing of this Complaint until fully paid; (b) In the alternative, ordering defendants Abcede and Santos to jointly and severally, in the event that they acted without necessary authority, to pay plaintiff actual damages in the amount of P36,000,00.00 with legal interest thereon from the filing of this Complaint until fully paid; and (c) Ordering defendant Philrealty or defendants Abcede and Santos to pay plaintiff exemplary damages in the amount to be determined by the Honorable Court but not less than P5,000,000.00 2.2. On the fourth cause of action, ordering defendant Philrealty to pay plaintiff (a) Actual damages in the amount of P7,112,738.82 with legal interest thereon from the filing of this Complaint until fully paid; and (b) Exemplary damages in the amount to be determined by the Honorable Court but not less than P1,000,000.00 2.3. On the fifth cause of action, ordering defendant Philrealty to pay plaintiff (a) Actual damages in the amount of P20,862,546.41 with legal interest thereon from the filing of this Complaint until fully paid; and (b) Exemplary damages in an amount to be determined by the Honorable Court but not less than P5,000,000.00. 2.4. On the sixth cause of action, ordering defendant Philrealty to pay plaintiff (a) Actual damages in the amount of P232,367.96 with legal interest thereon from the filing of this Complaint until fully paid; and (b) Exemplary damages in the amount to be determined by the Honorable Court but not less than P100,000.00 2.5. On the seventh cause of action, ordering defendant Philrealty and/or defendants Abcede and Santos to pay plaintiff attorney's fees in the amount of P750,000.00 and expenses of litigation in the amount of P50,000.00, plus costs. Plaintiff prays for such other just and equitable reliefs as may be warranted by the circumstances. On 23 July 1999, a joint Stipulation of Facts [17] was filed by the parties. In the said stipulation, they reconciled their respective claims on the payments made and the balances due for the construction of the Tektite Building project, Project 1, and Project 2. The reconciliation shows that the following amounts are due and/or overpaid: Due to LCDC Overpaid to LCDC Tektite Building P4,646,947.35 Project 1 P1,703,955.07 Project 2 P3,251,152.61 P14,955,107.68 P4,646,947.35 Both parties agreed that the only remaining issues to be resolved by the court, with respect to the Tektite Building project and Projects 1 to 3, were as follows: a) The validity of Ley