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Pan Pacific Service Contractors, Inc. et al. Vs. Equitable PCI Bank, etc

PAN PACIFIC SERVICE CONTRACTORS, INC. and RICARDO F. DEL ROSARIO, Petitioners, versus EQUITABLE PCI BANK (formerly THE PHILIPPINE COMMERCIAL INTERNATIONAL BANK), Respondent

G.R. No. 169975 | 2010-03-18

D E C I S I O N


CARPIO, J.:

The Case

Pan Pacific Service Contractors, Inc. and Ricardo F. Del Rosario (petitioners) filed this Petition for Review[1] assailing the Court of Appeals' (CA) Decision[2] dated 30 June 2005 in CA-G.R. CV No. 63966 as well as the Resolution[3] dated 5 October 2005 denying the Motion for Reconsideration. In the assailed decision, the CA modified the 12 April 1999 Decision[4] of the Regional Trial Court of Makati City, Branch 59 (RTC) by ordering Equitable PCI Bank[5] (respondent) to pay petitioners P1,516,015.07 with interest at the legal rate of 12% per annum starting 6 May 1994 until the amount is fully...