Commercial
Remedial
Ponente: NARVASA, J.
Decision Date: 1989-04-19
GR Number: G.R. No. L-45866
Digest Team
4 months ago
Avg. Rating:
Summary:
This case involves a dispute between the Overseas Bank of Manila (petitioner) and the National Waterworks and Sewerage Authority (respondent). The respondent filed a lawsuit against the petitioner for the non-payment of two time deposits made by the respondent with the petitioner. The trial court rendered a judgment by default in favor of the respondent, ordering the petitioner to pay the principal amounts of the time deposits, plus interest and attorney's fees. The Court of Appeals affirmed the trial court's decision with a modification on the interest rate. The petitioner appealed to the Supreme Court, seeking the reversal of the lower court's decision.
Doctrine:
The Supreme Court held that the petitioner's arguments were without merit. The suspension of the petitioner's banking operations and its financial distress did not excuse its non-compliance with its obligations to the respondent. The rehabilitation program approved by the Supreme Court after the appellate court's decision did not affect the petitioner's indebtedness to the respondent. Moreover, the petitioner's deliberate disregard of the respondent's requests for payment constituted bad faith, justifying the award of attorney's fees.
Facts:
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Issues Ratio:
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Dispositive:
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Donec enim diam vulputate ut pharetra sit amet aliquam id. Gravida rutrum quisque non tellus. Donec ultrices tincidunt arcu non. Ut aliquam purus sit amet. Pulvinar neque laoreet suspendisse interdum consectetur. Non enim praesent elementum facilisis leo vel fringilla est ullamcorper. Interdum varius sit amet mattis vulputate enim. Sagittis vitae et leo duis ut. Commodo quis imperdiet massa tincidunt nunc pulvinar sapien. Erat imperdiet sed euismod nisi porta. Nulla facilisi nullam vehicula ipsum a arcu cursus vitae. Amet aliquam id diam maecenas ultricies mi eget. Sit amet nulla facilisi morbi tempus iaculis urna id volutpat. Volutpat consequat mauris nunc congue nisi vitae. Sagittis eu volutpat odio facilisis mauris. A arcu cursus vitae congue mauris rhoncus. Amet purus gravida quis blandit. Faucibus vitae aliquet nec ullamcorper sit amet. Sed egestas egestas fringilla phasellus faucibus scelerisque eleifend donec pretium.
Other Notes:
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua.
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