G.R. No. 146511 - TOMAS ANG, VS. ASSOCIATED BANK AND ANTONIO ANG ENG LIONG.D E C I S I O N - Supreme Court E-Library

Ruling

WHEREFORE, judgment is rendered against defendant Antonio Ang Eng Liong and in favor of plaintiff, ordering the former to pay the latter: On the first cause of action: 1) the amount of P50,000.00 representing the principal obligation with 14% interest per annum from June 27, 1983 with 2% service charge and 6% overdue penalty charges per annum until fully paid; 2) P11,663.89 as accrued service charge; and 3) P34,991.67 as accrued overdue penalty charge. On the second cause of action: 1) the amount of P50,000.00 (sic) representing the principal account with 14% interest from June 27, 1983 with 2% service charge and 6% overdue penalty charges per annum until fully paid; 2) P7,088.34 representing accrued service charge; 3) P21,265.00 as accrued overdue penalty charge; 4) the amount of P10,000.00 as attorney's fees; and 5) the amount of P620.00 as litigation expenses and to pay the costs. SO ORDERED.