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PRESIDENT OF PHILIPPINE DEPOSIT INSURANCE CORPORATION AS LIQUIDATOR OF PACIFIC BANKING CORPORATION v. WILFREDO D. REYES

This case has been cited 1 times or more.

2007-07-03
CORONA, J.
Neither was he entitled to legal interest of 6% per annum under Article 2209 of the Civil Code[33] since this provision applies only when there is a delay in the payment of a sum of money.[34] This was not the case here. In fact, petitioner himself manifested before the CA that the SEC (as liquidator) had already paid him P5,062,500 representing 15% of P33,750,000.[35]