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Investors Finance Corp vs Autoworld Sales, et al

INVESTORS FINANCE CORPORATION, petitioner, vs. AUTOWORLD SALES CORPORATION, and PIO BARRETTO REALTY DEVELOPMENT CORPORATION, respondents.

G.R. No. 128990 | 2000-09-21

D E C I S I O N

BELLOSILLO, J.:

INVESTORS FINANCE CORPORATION seeks a review of the Decision of the Court of Appeals which ruled that the financing firm had entered into a usurious loan transaction with Autoworld Sales Corporation, thus entitling the latter to reimbursement of excess interest payments amounting to P2,586,035.44.[1]

Petitioner Investors Finance Corporation, then known also as FNCB Finance (now doing business under the name of Citytrust Finance Corporation), is a financing company doing business with private respondent Autoworld Sales Corporation

(AUTOWORLD) since 1975. Anthony Que, president of AUTOWORLD, also held the...