SECOND DIVISION
[G.R. No. 253488. February 8, 2021.]
SPOUSES MAURA S. LU AND CONSTANTINO R. LU, petitioners,vs. BANK OF THE PHILIPPINE ISLANDS, respondent.
NOTICE
Sirs/Mesdames :
Please take notice that the Court, Second Division, issued a Resolution dated08 February 2021which reads as follows:
"G.R. No. 253488 (Spouses Maura S. Lu and Constantino R. Lu v. Bank of the Philippine Islands). — The Court resolves to grant petitioner's motion for extension of thirty (30) days from the expiration of the reglementary period within which to file a petition for review on certiorari. 1
The Petition for Review on Certiorari2 under Rule 45 of the Rules of Court, assails the Court of Appeals' (CA) Decision 3 dated October 24, 2019 and Resolution dated September 7, 2020 in CA-G.R. CV No. 112007 which affirmed with modifications the Regional Trial Court's judgment in an action for sum of money.
Considering the allegations, issues, and arguments adduced in the petition for review on certiorari, the Court finds no cogent reason to deviate from the CA's ruling that the petitioners are liable to pay the respondent their unpaid monetary obligations. However, the twelve percent (12%) per annum penalty on the remaining balance of petitioner Maura S. Lu's cash loan should start only on December 1, 2015 or the date of extrajudicial demand. 4
FOR THESE REASONS, the petition is DENIED. The Court of Appeals' Decision dated October 24, 2019 and Resolution dated September 7, 2020 in CA-G.R. CV No. 112007 are AFFIRMED with MODIFICATION in that the penalty of twelve percent (12%) per annum on the remaining balance of the cash loan must be reckoned on December 1, 2015.
SO ORDERED."
By authority of the Court:
(SGD.) TERESITA AQUINO TUAZONDivision Clerk of Court
Footnotes
1.Rollo, pp. 3-6.
2.Ids at 12-31.
3.Id. at 40-51; penned by Associate Justice Ramon R. Garcia, with the concurrence of Associate Justices Victoria Isabel A. Paredes and Tita Marilyn B. Payoyo-Villordon.
4. CIVIL CODE, ART. 1169. See Pineda v. De Vega, G.R. No. 233774, April 10, 2019.