G.R. NO. 167022 - LICOMCEN INCORPORATED, VS. FOUNDATION SPECIALISTS, INC.. FOUNDATION SPECIALISTS, INC., VS. LICOMCEN INCORPORATED AND COURT OF APPEALS.D E C I S I O N - Supreme Court E-Library

Ruling

WHEREFORE , premises considered, judgment is hereby rendered in favor of Claimant FOUNDATION SPECIALIST, INC. and against Respondent LICOMCEN, INCORPORATED, ordering the latter to pay to the former the following amounts: P14,643,638. 51 representing material costs at site; P2,957,989.94 representing payment for equipment and labor standby costs; P5,120,000.00 representing unrealized profit; and P1,264,404.12 representing the unpaid balance of FSI's billing. FURTHER , the said Respondent is ordered to solely and exclusively bear the entire cost of arbitration proceedings in the total amount of P474,407.95 as indicated in the TOR, and to reimburse the herein Claimant of any amount thereof which it had advanced and paid pursuant to TOR. All the above-awarded amounts shall bear interest of 6% per annum from the date of the formal demand on February 3, 1998 (Par. 10, Admitted Facts, TOR) until the date this Decision/Award becomes final and executory and 12% per annum from the date this Decision/Award becomes final and executory until fully paid. SO ORDERED.