The Supreme Court (SC) has instructed Cebu Governor Gwendolyn Garcia to settle her debt with Hong Kong and Shanghai Banking Corp. (HSBC), denying her petition to block the payment order.
In a decision issued in December last year, the SC Second Division upheld an earlier resolution directing Garcia to pay $700,000 in damages, 12 percent legal interest from July 2000, and P404,560.50 in legal costs.
The SC rejected Garcia’s argument that the alias writ of execution was improperly served, stating that she failed to provide evidence to justify overturning the writ.
The case, dating back to 1996 when Garcia borrowed $900,000 from HSBC, has seen various rulings over the years, with the SC affirming the trial court’s decision to execute the payment.
The SC noted that Garcia’s delay in addressing the debt has extended the case beyond the typical five-year period for writ enforcement.
Source: PhilNews24 | September 17, 2024
