G.R. No. 171545 - Equitable PCI Bank vs. Ng Sheung Ngor

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G.R. No. 171545: Equitable PCI Bank vs. Ng Sheung Ngor

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Title Supreme Court: Equitable PCI Bank vs. Ng Sheung Ngor

Case: G.R. No. 171545

Decision Date: Dec 19, 2007

Respondents sued Equitable PCI Bank over unilateral interest rate escalation clauses in promissory notes. RTC invalidated the clause, awarded damages, and used 1996 exchange rates. CA dismissed Equitable’s certiorari petition for forum shopping. SC reversed, ruling no forum shopping, void escalation clause, and no extraordinary deflation, remanding for loan computation.

promissory notes

escalation clause

extraordinary deflation

Long 29 min

1.7x of typical case length

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