On top of this, UCPB was ordered to pay P70 million in damages and reimburse court filing fees and attorney’s fees. The United Coconut Planters Bank (UCPB) has denounced the decision of the Pasay City Regional Trial Court ordering it to pay a real estate developer about P1.5 billion for allegedly padding its loan obligations. 13, 2000; and P87.58 million for the 28 additional condominium units turned over to UCPB’s custody, plus 12 percent interest from April 13, 2000. UCPB said it had already filed a motion for reconsideration before the Pasay court./rga ADVERTISEMENTThe Pasay RTC ruled in favor of EGI.

Source: Philippine Daily Inquirer August 04, 2016 09:56 UTC