This is a civil case, G.R. No. 215124, entitled "Heirs of Salvacion Nidea, namely: Myrna V. Nidea, Alexander V. Nidea, Jocelyn N. Vargas, et al. vs. Uy Ching Siong". The Supreme Court denied the petitioners' motion for an extension of time to file a petition for review on certiorari and affirmed the decision of the Court of Appeals (CA) declaring the Deed of Absolute Sale (DAS) as an equitable mortgage. Consequently, the petitioners-heirs are bound to pay the loan obligation to the respondent, including legal interest, as stated in their agreement over the DAS. Non-payment by the petitioners-heirs will allow the respondent to avail of appropriate legal remedies. The decision was penned by Associate Justice Edgardo T. Lloren, with Associate Justices Romulo V. Borja and Edward B. Contreras concurring; Chief Justice Sereno was on an official travel, and Associate Justice Jardeleza was designated acting member per S.O. No. 1952 dated March 18, 2015.
FIRST DIVISION
[G.R. No. 215124. March 18, 2015.]
HEIRS OF SALVACION NIDEA, NAMELY: MYRNA V. NIDEA, ALEXANDER V. NIDEA, JOCELYN N. VARGAS, ET AL., petitioners, vs. UY CHING SIONG, respondent.
NOTICE
Sirs/Mesdames :
Please take notice that the Court, First Division, issued a Resolution dated March 18, 2015 which reads as follows:
"G.R. No. 215124 (Heirs of Salvacion Nidea, namely: Myrna V. Nidea, Alexander V. Nidea, Jocelyn N. Vargas, et al. v. Uy Ching Siong). — The petitioners' motion for an extension of thirty (30) days within which to file a petition for review on certiorari is GRANTED, counted from the expiration of the reglementary period.
After a judicious review of the records, the Court resolves to DENY the instant petition and AFFIRM the May 23, 2014 Decision 1 and September 29, 2014 Resolution 2 of the Court of Appeals (CA) in CA-G.R. CV No. 03093 for failure of the heirs of Salvacion Nidea, namely: Myrna V. Nidea, Alexander V. Nidea, Jocelyn N. Vargas, et al. (petitioners-heirs) to show that the CA committed any reversible error in deeming the Deed of Absolute Sale dated July 3, 2001 (DAS) as an equitable mortgage, and thus, declared Salvacion Nidea liable for her loan obligation to Uy Ching Siong (respondent).
As correctly ruled by the CA, having established that the subject DAS was deemed as an equitable mortgage, petitioners-heirs are bound to pay its loan obligation to respondent in the principal amount of P2,000,000.00 plus legal interest, in accord with the nature of their agreement over the DAS. In case of non-payment, respondent may avail of the appropriate remedies under the law. 3cDTCIA
SO ORDERED." SERENO, C.J., on official travel; JARDELEZA, J., designated acting member per S.O. No. 1952 dated March 18, 2015.
Very truly yours,
(SGD.) EDGAR O. ARICHETADivision Clerk of Court
Footnotes
1. Rollo, pp. 70-76. Penned by Associate Justice Edgardo T. Lloren with Associate Justices Romulo V. Borja and Edward B. Contreras, concurring.
2. Id. at 83-84.
3. See Raymundo v. Galen Realty and Mining Corporation, G.R. No. 191594, October 16, 2013, 707 SCRA 515, 526.