This case has been cited 1 times or more.
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2015-09-08 |
BRION, J. |
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| With respect to the amount of interest on just compensation, we decisively ruled in Republic v. Court of Appeals[342] that the just compensation due to the property owner is effectively a forbearance of money, and not indemnity for damages.[343] Citing Eastern Shipping Lines, Inc. v. Court of Appeals,[344] we awarded a legal interest of 12% per annum on just compensation. The Court upheld the imposition of the 12% interest rate in just compensation cases, as ruled in Republic, in Reyes v. National Housing Authority,[345] Land Bank of the Philippines v. Wycoco,[346] Republic v. Court of Appeals,[347] Land Bank of the Philippines v. Imperial,[348] Philippine Ports Authority v. Rosales-Bondoc,[349] and Curata v. Philippine Ports Authority.[350] The Court reiterated the Republic ruling in Apo Fruits Corporation and Hijo Plantation, Inc. v. Land Bank of the Philippines,[351] Land Bank of the Philippines v. Rivera,[352] Department of Agrarian Reform v. Goduco,[353] and Land Bank of the Philippines v. Santiago, Jr.[354] | |||||