G.R. No. 231546 -

Ruling

Accordingly, respondents filed a Petition for the Determination and Fixing of Just Compensation before the Regional Agrarian Reform Adjudicator (RARAD), which was docketed as RARAD VII-N-1281-1283-2004. The landowners claimed that in valuing their properties, LBP should have used the production data and values at the time of the transmittal of the claim folders to the LBP Head Office in 2003, instead of the data gathered at the time of the ocular inspection in 1997. [12] Thus, the landowners asserted that the just compensation for the subject properties should be fixed at P63,738,314.29, and not P32,804,751.62 as fixed by LBP. In a Resolution dated March 8, 2006, the RARAD agreed with the landowners' valuation of P63,738,314.29. [13] LBP then elevated the ruling to the DARAB insisting that the said valuation was not in accord with DAR Administrative Order (A.O.) No. 5, Series of 1998 and DAR-LBP Joint Memorandum Circular (JMC) No. 15, Series of 1999. The DARAB eventually resolved LBP's appeal in favor of respondents maintaining the valuation made by the RARAD. [14] Refusing to concede, LBP eventually filed a Petition for the Final Determination of Just Compensation before the RTC-SAC, which was docketed as Civil Case No. 09-14471. [15] The Ruling of the RTC In its Decision [16] dated May 17, 2011, the RTC-SAC ruled in favor of respondents and fixed the amount of compensation at P143,774,384.67, the dispositive portion of which reads: WHEREFORE, premises considered, the Court finds for the Respondent, and hereby DIRECTS the Petitioner Land Bank to pay the following: (1) the remaining balance of the just compensation to the Petitioners in the amount of One Hundred Ten Million Nine Hundred Sixty­ Nine Thousand Six Hundred Thirty-Three and 5/100 (P110,969,633.05) pesos, with legal interest of 12% per annum, reckoned from December 30, 2003 up to the time when the whole amount is actually paid; and (2) its share in the Commissioners' fees in the amount of P200,000.00. In addition, Petitioner is hereby ordered to release the total amount of initial deposit in favor of the Respondents for the just compensation of the subject properties in the amount of Thirty-Two Million Eight Hundred Four Thousand Seven Hundred Fifty-One and 62/100 pesos (P32,804,751.62), if the same has not been actually received by the Respondents to date. Finally, respondents are likewise direct to pay its share in the Commissioners' fees in the same amount. SO ORDERED.