4/16/2021 E-Library - Information At Your Fingertips: Printer Friendly respondent bank. In its decision dated May 24, 1991, it held respondent bank solely culpable and fully exonerated the other private respondents. It also upheld petitioner's claims for moral damages, for the mental anguish that he suffered, and exemplary damages, to remind respondent bank "that it should always act with care and caution in handling the money of its depositors in order to uphold the faith and confidence of its depositors to banking institutions xxx".[9] Thus, the dispositive part of the said decision read: WHEREFORE, judgment is hereby rendered in favor of plaintiff and against defendant and third-party plaintiff, Rizal Commercial Banking Corporation, ordering the latter to pay plaintiff the following sums: 1) US$100,000.00, or its equivalent according to Central Bank rate at the time payment is actually made with interest thereon at 12% per annum from June 26, 1987, when the complaint was filed, until fully paid; 2) P30,000.00 as moral damages; 3) P20,000.00 as exemplary damages; and 4) 20% of the total amount due to the plaintiff as attorney's fees and litigation expenses, all three foregoing items with interest at 12% per annum from date hereof. The defendant dismissed. bank's counterclaims and third-party complaint are The third-party defendants' counterclaims are likewise dismissed. Costs against defendant. SO ORDERED.[10] Respondent bank and third-party defendants sought reconsideration of the above decision and on September 2, 1991, Judge Migriño amended his decision to hold Papercon and Tom Pek solidarily liable with respondent bank. He also changed the interest rate for the US$100,000 from 12% to 6% per annum, charged interest for the awards of moral damages and exemplary damages until they are paid, and reduced the award of attorney's fees from 20% to 10% of the total monetary awards. Following is the dispositive portion of the RTC decision, as modified: WHEREFORE, judgment is hereby rendered: On the Main Action 1. Ordering the defendant Rizal Commercial Banking Corporation to pay the plaintiff Chiang Yia Min the following sums: a) US$100,000.00, or https://elibrary.judiciary.gov.ph/thebookshelf/showdocsfriendly/1/50982 its equivalent in Philippine 3/14