G.R. NO. 144339 - TIU HIONG GUAN, LUISA DE VERA TIU, JUANITO RELLERA AND PURITA RELLERA, VS. METROPOLITAN BANK & TRUST COMPANY.DECISION - Supreme Court E-Library

Ruling

WHEREFORE, judgment is hereby rendered in favor of the [respondent] and against the [petitioners], ordering the [petitioners] jointly and severally to pay [respondent]: The sum of P741,599.64 as of February 15, 1993 with interest at 28.792% per annum and penalty charges of 18% per annum until fully paid representing the amount due on the promissory note; The sum of P830,373.20 as of February 15, 1993 with interest at the current rate [and] with penalty charges of 12% per annum until fully paid representing the value or proceeds of the amount held in trust as stipulated; [A]ttorney's fees in the amount equivalent to 10% of the amount due from the [petitioners]; and The costs of suit. [Petitioners'] counterclaim is hereby dismissed for lack of merit. SO ORDERED.