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[A. M. No. P-97-1241. October 3, 2001]

CASTILLO vs. BUENCILLO

THIRD DIVISION

Gentlemen:

Quoted hereunder, for your information, is a resolution of this Court dated OCT 3 2001.

Administrative Matter No. P-97-1241 (Dinna C. Castillo vs. Zenaida C. Buencillo, Officer-in-Charge, Branch Clerk of Court and Legal Researcher, Regional Trial Court, San Pablo City, Branch 30.)

Respondent in its Manifestation with Motion for Clarification seeks an explanation as to the phrase "plus interest earned" in the dispositive portion of the resolution in the above matter. The Court has ruled that in cases involving obligations not constituting a loan or forbearance of money, the interest rate of 6% per annum in accordance with Article 2209 of the Civil Code is to be imposed (Ford Terminal, Inc. vs. CA, 262 SCRA 339 [1996]), from the time the obligation became due (in this case May 31, 1995) until finality of judgment. Thereafter, the interest rate to be imposed is 12%, until the obligation is returned (Philippine National Bank vs. CA, 263 SCRA 766 [1996]).

The Court notes that respondent has returned her obligation of P20,000.00 to complainant on August 28, 2001. Hence, only its interest requires computation. On June 20, 2001, the Court denied with finality complainant's motion for reconsideration. Obviously, however, before a copy of the denial resolution could be served on complainant, she filed a supplemental motion for reconsideration dated May 25, 2001. This pleading was noted without action by the Court on July 11, 2001. The decision thus became final and executory 15 days after receipt of the July 11, 2001 resolution. Therefore, from May 31, 1995 until finality of judgment, an interest rate of 6% per annum shall be imposed on the P20,000.00. An interest rate of 12% per annum shall be imposed on the P20,000.00 from finality until August 28, 2001, the date the obligation was returned.

WHEREFORE, the Court orders respondent to pay an interest rate of 6% per annum on the P20,000.00 from May 31, 1995 until finality of judgment; and an interest rate of 12% per annum from finality until August 28, 2001.

SO ORDERED.

Very truly yours,

(Sgd.) JULIETA Y. CARREON

Clerk of Court


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