G.R. No. 191274 - Erma Industries, Inc. vs. Security Bank Corp.

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G.R. No. 191274: Erma Industries, Inc. vs. Security Bank Corp.

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Title Supreme Court: Erma Industries, Inc. vs. Security Bank Corp.

Case: G.R. No. 191274

Decision Date: Dec 6, 2017

Erma Industries defaulted on loans; sureties held liable. Courts upheld obligations, reduced penalties to 12% interest, denied attorney's fees, and rejected novation claims.

sureties

outstanding loan obligations

reduced penalty charges

Long 23 min

1.4x of typical case length

END