July 2011 - Philippine Supreme Court Resolutions
Philippine Supreme Court Resolutions
[G.R. No. 197010 : July 27, 2011]
SPS. RODRIGO AND ERLINDA MERCADO V. SECURITY BANK AND TRUST COMPANY
G.R. No. 197010 (Sps. Rodrigo and Erlinda Mercado v. Security Bank and Trust Company).
RESOLUTION
The Court resolves to DENY the petition for review, there being no reversible error by the Court of Appeals in modifying the Decision dated February 26, 2007 and the Amendatory Order dated June 19, 2007 of the Regional Trial Court of Batangas City, Branch 84, by imposing the interest of 12% per annum to be counted from March 30, 1999, the date of demand made by respondent Security Bank and Trust Company, until fully paid, and applying the rate of penalty of 2% per month on the amount due in favor of respondent.
SO ORDERED.
Very truly yours,
(Sgd.) LUCITA ABJELINA-SORIANO
Clerk of Court