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JurisprudenceG.R. NO. 140608 -

G.R. NO. 140608 - PERMANENT SAVINGS AND LOAN BANK, VS. MARIANO VELARDE.D E C I S I O N - Supreme Court E-Library

Cited Laws

RA 974,RA 332,RA 288,RA 937RA 312,RA 511,RA 722,RA 706,RA 645,RA 175,RA 339,RA 539,RA 1146,
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TL;DR — Ruling

WHEREFORE, the petition is GRANTED . The Decisions of the Regional Trial Court of Manila (Branch 37) dated January 26, 1996, and the Court of Appeals dated October 27, 1999 are SET ASIDE . Respondent is ordered to pay One Million Pesos ( P 1,000,000.00) plus 25% interest and 24% penalty charge per annum beginning October 13, 1983 until fully paid, and 25% of the amount due as attorney’s fees.

Decision

Ruling

WHEREFORE, the petition is GRANTED . The Decisions of the Regional Trial Court of Manila (Branch 37) dated January 26, 1996, and the Court of Appeals dated October 27, 1999 are SET ASIDE . Respondent is ordered to pay One Million Pesos ( P 1,000,000.00) plus 25% interest and 24% penalty charge per annum beginning October 13, 1983 until fully paid, and 25% of the amount due as attorneys fees. Costs against respondent. SO ORDERED.

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