- Petitioner
- Hometown Development, Inc.
- Respondent
- Union Bank of the Philippines
- Citation
- G.R. No. 240531
- Court
- Supreme Court
- Division
- First Division
- Decided
- January 14, 2019
Dispute involving damages award between development company and bank, with issues on exemplary damages, attorney's fees, and litigation expenses
Summary
The Supreme Court denied Hometown Development Inc.'s petition against Union Bank of the Philippines, characterizing it as a desperate attempt to salvage rights long foregone through neglect. The Court affirmed the lower courts' factual findings and legal conclusions but modified the damages award. Following Article 2234 of the Civil Code, the Court deleted the exemplary damages award since the trial court found respondent not entitled to moral damages, which is a prerequisite. However, the Court awarded P100,000.00 in attorney's fees and litigation expenses under Article 2208, recognizing that petitioner's acts compelled respondent to protect its interests, with 6% annual interest from finality until full payment.