G.R. No. 130972 - PHILIPPINE LAWIN BUS, CO., MASTER TOURS & TRAVEL CORP., MARCIANO TAN, ISIDRO TAN, ESTEBAN TAN AND HENRY TAN, VS. COURT OF APPEALS AND ADVANCE CAPITAL CORPORATION.D E C I S I O N - Supreme Court E-Library

Ruling

WHEREFORE, the appealed decision should be, as it is hereby REVERSED and SET ASIDE. In lieu thereof, a new one is hereby rendered ordering the defendants-appellees to pay, jointly and solidarily, in favor of plaintiff-appellant Advance Capital Corporation, the following amounts: 1. P16,484,994.42, the principal obligation under the two promissory note Nos. 003 and 00037 plus interest and penalties; 2. P100,000.00 for loss of goodwill and good reputation; 3. An amount equivalent to 10% of the collectible amount, plus P50,000, as acceptance fee and P500 per appearance, as and for attorneys fees: and 4. P100,000 as litigation expenses. Costs shall be taxed against defendant-appellees. SO ORDERED.