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Virata vs. Ng Wee

LUIS JUAN L. VIRATA AND UEM-­MARA PHILIPPINES CORPORATION (NOW KNOWN AS CAVITEX INFRASTRUCTURE CORPORATION), PETITIONERS, VS. ALEJANDRO NG WEE, WESTMONT INVESTMENT CORP., ANTHONY T. REYES, SIMEON CUA, VICENTE CUALOPING, HENRY CUALOPING, MARIZA SANTOS­TAN, AND MANUEL ESTRELLA, RESPONDENTS. [G.R. No. 221058] WESTMONT INVESTMENT, CORPORATION, PETITIONER, VS. ALEJANDRO NG WEE, RESPONDENT. [G.R. No. 221109] MANUEL ESTRELLA, PETITIONER, VS. ALEJANDRO NG WEE, RESPONDENT. [G.R. No. 221135] SIMEON CUA, VICENTE CUALOPING, AND HENRY CUALOPING, PETITIONERS, VS. ALEJANDRO NG WEE, RESPONDENT. [G.R. No. 221218] ANTHONY T. REYES, PETITIONER, VS. ALEJANDRO NG WEE, LUIS JUAN VIRATA, UEM-MARA PHILIPPINES CORP., WESTMONT INVESTMENT CORP., MARIZA SANTOS-TAN, SIMEON CUA, VICENTE CUALOPING, HENRY CUALOPING, AND MANUEL ESTRELLA, RESPONDENTS.

G.R. No. 220926 | 2017-07-05

D E C I S I O N
 
VELASCO JR., J.:
 
Nature of the Case

For resolution is the consolidated petitions assailing the September 30, 2014 Decision[1] and October 14, 2015 Resolution[2] of the Court of Appeals (CA) in CA-G.R. CV. No. 97817.[3] Said rulings affirmed the trial court judgment declaring petitioners solidarily liable to Alejandro Ng Wee (Ng Wee) in the amount of P213,290,410.36, plus interests and damages.
 
The Facts

Ng Wee was a valued client of Westmont Bank. Sometime in 1998, he was enticed by the bank manager to make money placements with Westmont Investment Corporation (Wincorp), a domestic corporation...