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Ventura O. Ducat, et al. vs. Papa Securities Corp.

IN THE MATTER OF CONTEMPT PROCEEDINGS AGAINST VENTURA O. DUCAT and TENG MARIANO AND CRUZ LAW OFFICES, PAPA SECURITIES CORPORATION, petitioner.

G.R. No. 117266 | 1997-03-13

D E C I S I O N


BELLOSILLO, J.:

PAPA SECURITIES CORPORATION filed on 30 September 1983 an action for a sum of money against Ventura O. Ducat before the Regional Trial Court of Makati 1 in connection with an obligation which arose on 25 August 1983.

On 30 June 1987 the trial court rendered judgment finding respondent Ventura O. Ducat liable to petitioner Papa Securities Corporation in the principal amount of P3,159,253.37 with interest at 14% per annum from 25 August 1983 until full payment, service fee of 1/2% of the debt balance computed monthly, attorney's fees and expenses of litigation in an amount equivalent to 25% of the amount...