IT HAS come to our attention that the news regarding the decision of the Supreme Court dated December 4, 2023 in a case between Hongkong Shanghai Banking Corp. ("HSBC") and our client Governor Gwendolyn Garcia is now being circulated in social media.
While we have not yet received a copy of this decision, we would like to remind the public not to be swayed by incomplete, misleading and malicious news reports obviously designed to tarnish the good image of the governor.
For the information of the public, this case originated from a decision of the Regional Trial Court of Makati Branch 57 which awarded the amount of US$890,347.92 and later reduced by the Court of Appeals to US$700,000 in favor of HSBC.
This award was contested by our client since it had no basis (Gov. Gwen actually put up a collateral that was worth more than the award) and especially since HSBC wanted to enforce collection at already a ridiculous sum of US$2,800,000. This is the case that we challenged and elevated to the Supreme Court.
While this case was pending in the SC, HSBC then filed a Petition to Revive Judgment since it has been more than 10 years since the decision had become final. Unfortunately for HSBC, the Regional Trial Court of Taguig Branch 153 dismissed the petition since the action had already prescribed and the award could no longer be enforced. This prompted HSBC to elevate the dismissal to the Court of Appeals where it is now pending.
From the foregoing facts, it is very clear that there is no real, imminent threat of enforcement of any civil liability against Governor Gwen Garcia.
Unless and until the Supreme Court decides with finality that this case could still be revived, any attempt to enforce a decision that has been dead for 10 years would be premature.
We trust that we have set the record straight on this matter and that the public would be guided accordingly.
Very Truly Yours,
Atty. Alex O. Avisado Jr.
Gana Atienza Avisado Law Offices
Counsel for Gov. Gwendolyn Garcia