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Spouses Poon vs. Prime Savings Bank

SPOUSES JAIME and MATILDE POON, Petitioners, vs. PRIME SAVINGS BANK represented by the PHILIPPINE DEPOSIT INSURANCE CORPORATION as Statutory Liquidator, Respondent. Present: SERENO, CJ, Chairperson, LEONARDO-DE CASTRO, BERSAMIN, PERLAS-BERNABE and CAGUIOA, JJ

G.R. No. 183794 | 2016-06-13

DECISION


SERENO, CJ:

Before this Court is a Petition for Review on Certiorari1 assailing the Court of Appeals (CA) Decision2 which affirmed the Decision3 issued by Branch 21, Regional Trial Court (RTC) of Naga City.

The RTC ordered the partial rescission of the penal clause in the lease contract over the commercial building of Spouses Jaime and Matilde Poon (petitioners). It directed petitioners to return to Prime Savings Bank (respondent) the sum of P1,740,000, representing one-half of the unused portion of its advance rentals, in view of the closure of respondent's business upon order by the Bangko Sentral ng Pilipinas (BSP).

ANTECEDENT...