G.R. No. 172041 - GATEWAY ELECTRONICS CORPORATION AND GERONIMO B. DELOS REYES, JR., VS. ASIANBANK CORPORATION.D E C I S I O N - Supreme Court E-Library

Ruling

WHEREFORE then, in view of the foregoing, judgment is rendered holding defendants Gateway Electronics Corporation, Geronimo De Los Reyes and Andrew De Los Reyes jointly and severally liable to pay the plaintiff the following: a) The sum of $2,235,452.17 United States Currency with interest to be added on at the prevailing market rate over a given thirty day London Interbank Offered Rate (LIBOR) plus a spread of 5.5358 percent or ten and [45,455/100,000] percent per annum for the first 35 days and every thirty days beginning November 23, 1999 until fully paid; b) a penalty charge after November 23, 1999 of two percent (2%) per month until fully paid; c) attorney's fees of twenty percent (20%) of the total amount due and unpaid; and d) costs of the suit. SO ORDERED.