G.R. No. 138993 - PHILIPPINE VETERANS BANK, VS. HON. SANTIAGO G. ESTRELLA & SOLID HOMES, INC..D E C I S I O N - Supreme Court E-Library

Ruling

WHEREFORE, it is respectfully prayed of this Honorable Court that, after trial, judgment be rendered: 1. Ordering the Defendant to release to the Plaintiff all the Condominium Certificates of Title (CCT'S) covering the disputed properties and declaring that the next installment shall be due only after said release. 2. Declaring the Plaintiff to have fully and completely complied with the terms of the Compromise Agreement. 3. Ordering the Defendant to pay the Plaintiff. a. The amount not less than One Million Pesos (P1,000,000.00) as actual damages; b. The amount of not less than One Million Pesos (P1,000,000.00) as damage to its goodwill and business reputation; c. The amount of not less than One Million (P1,000,000.00) Pesos as exemplary damages; d. The amount of Two Hundred Fifty Thousand Pesos (P250,000.00) as and for attorney's fees; and f. The Costs of suit. Plaintiff prays for such other and further reliefs as this Honorable Court may deem just and equitable in the premises. [2] In its answer to the complaint, PVB prayed that the Compromise Agreement be rescinded and that SHI be ordered to receive the amount of P28,937,965.65 it had previously remitted to PVB and to pay actual and compensatory damages. [3] SHI filed a motion for summary judgment. For its part, PVB filed a motion to dismiss the case. On February 22, 1994, the trial court issued a resolution denying PVB's motion to dismiss and granting SHI's motion for summary judgment. The decretal portion of the original copy of the resolution appended to the original record reads: WHEREFORE, premises considered, and finding the "Motion for Summary Judgment" to be tenable, the Court hereby GRANTS the same. Judgment is hereby rendered directing the defendant to release and deliver to plaintiff 2,850 square meters of condominium units which is equivalent of the payment effected by plaintiff to defendant in the amount of P28,937,965.95 (sic) computed as P10,871.58 per square meter with legal interest thereon. The plaintiff is however directed to pay the remaining balance of P28,937,965.95 (sic) in six (6) equal quarterly installments, the first installment shall start WITHIN 30 DAYS from finality of this decision/resolution and the succeeding installments to be paid within the first five (5) days of the month of the succeeding quarter thereafter plus 18% interest thereon per annum from this date. SO ORDERED.