G.R. No. 213796 - SPOUSES CALVIN LUTHER R. GENOTIVA AND VIOLET S. GENOTIVA, VS. EQUITABLE-PCI BANK (NOW BANCO DE ORO UNIBANK, INC.).

Ruling

WHEREFORE , there being preponderance of evidence in favor of Plaintiffs, the Real Estate Mortgage is hereby declared NULL and VOID. The foreclosure of the aforementioned property subject of the mortgage contract is likewise ordered ANNULLED. The defendant is directed to reconvey the property of plaintiff covered by TCT No. 77966 and to restore the title to the plaintiff. Likewise, the defendant bank is directed to return to plaintiff, Calvin Genotiva[,] the amount of P500,000.00 unduly sequestered by defendant, with legal interest effective the filing of this action until fully paid. Further the defendant is directed to pay P50,000.00 as moral damages, P20,000.00 as exemplary damages, [and] P50,000.00 as attorney's fees. SO ORDERED.