G.R. No. 173565 - TRANSPACIFIC BATTERY, CORPORATION AND MICHAEL G. SAY, VS. SECURITY BANK & TRUST CO..[G.R. NO. 173607]MICHAEL G. SAY AND JOSEPHINE G. SAY, VS. SECURITY BANK & TRUST COMPANY.D E C I S I O N - Supreme Court E-Library

Ruling

WHEREFORE, IN VIEW OF THE FOREGOING, judgment is rendered in favor of plaintiff Security Bank and Trust Company and against defendants Transpacific Battery Company, Michael Go Say, Melchor G. Say and Josephine G. Say ordering the defendants to pay jointly and severally to the plaintiff the following amounts: The sum of P2,290,865.41 representing the balance of defendants' outstanding and unpaid obligation as of the filing of the complaint on February 4, 1992 plus interest at the rate of 12% per annum from February 4, 1992 until full payment of the defendants' obligation under the aforecited Trust Receipts and/or Letter Agreement is made; Attorney's fees in the amount equivalent to 25% on the amount due; Cost of suit. SO ORDERED.