Natural Resources Development Corp. v. Richmond Plywood Corp.

SECOND DIVISION

[G.R. No. 215829. March 11, 2015.]

NATURAL RESOURCES DEVELOPMENT CORPORATION, petitioner, vs. RICHMOND PLYWOOD CORPORATION, respondent.

NOTICE

Sirs/Mesdames :

Please take notice that the Court, Second Division, issued a Resolution dated 11 March 2015which reads as follows:

"G.R. No. 215829 — Natural Resources Development Corporation, petitioner vs. Richmond Plywood Corporation, respondent.

After a careful review of the records of the case, the Court finds no reversible error in the assailed Decision and Resolution.

However, the Court finds it necessary to modify the legal interest rate imposed pursuant to jurisprudence and Circular No. 799, series of 2013 of the Banko Sentral ng Pilipinas, which took effect on July 1, 2013.

WHEREFORE, the Court ADOPTS and AFFIRMS the findings of facts and conclusions of law in the assailed Decision dated February 25, 2014 and Resolution dated November 5, 2014 of the Court of Appeals in CA-G.R. CV No. 02210-MIN, with MODIFICATION that the legal interest to be imposed is SIX PERCENT (6%) per annum on the monetary equivalent of the undelivered logs in the amount of P434,461.39 to be computed from the date of finality of this Resolution until fully paid, pursuant to jurisprudence and Circular No. 799, series of 2013 of the Banko Sentral ng Pilipinas. aICHEc

SO ORDERED."

Very truly yours,

 

MA. LOURDES C. PERFECTODivision Clerk of Court

By:

(SGD.) TERESITA AQUINO TUAZONDeputy Division Clerk of Court