G.R. No. 215954 - SPOUSES JOVEN SY AND CORAZON QUE SY, VS. CHINA BANKING CORPORATION.D E C I S I O N - Supreme Court E-Library

Ruling

WHEREFORE, premises considered , judgment is hereby rendered in favor of plaintiff China Banking Corporation and against the defendant spouses Joven Sy and Corazon Que Sy ordering the latter to jointly and severally pay the former the following: (a) The deficiency balance of P13,938,791.69 plus interest thereon at the rate of 12% per annum from the date of extrajudicial demand on 19 April 2004; (b) A 1% penalty on the said deficiency balance for every month of default; (c) The amount of P100,000.00 as and by way of attorney's fees; and (d) Costs of suit. Furnish copies of this Decision to the parties and their respective counsels. SO ORDERED.