CEBU CITY— Gov. Gwendolyn Garcia's legal team slammed recent reports it described as "incomplete, misleading and malicious" a Supreme Court ruling in her case with Hong Kong Shanghai Banking Corp. (HSBC). In a statement released over the weekend, Garcia's counsel, Alex Avisado Jr., clarified the situation and urged the public to disregard reports they claimed were intended to damage the governor's reputation. The case dates back to 1996, when Garcia secured a credit facility from HSBC to purchase a light cargo transit barge for GGC Enterprises. Although HSBC covered the payment, Garcia and GGC Enterprises allegedly failed to reimburse the bank. HSBC subsequently filed a complaint to recover the amount owed. Initially, the Makati Regional Trial Court awarded HSBC $890,347.92 in damages, a sum later reduced to $700,000 by the Court of Appeals. Garcia's legal team contested this decision, arguing it lacked justification, particularly since Garcia had provided collateral exceeding the claimed amount. The case was then brought before the Supreme Court. While the Supreme Court reviewed the case, HSBC sought to enforce a larger sum of $2.8 million, which Garcia's camp deemed excessive. HSBC also filed a petition to revive the judgment due to the passage of over 10 years since the decision became final. The Regional Trial Court (RTC) of Taguig Branch 153 dismissed this petition, ruling that the claim had prescribed and was no longer enforceable. HSBC's appeal of this dismissal is currently pending before the Court of Appeals. Garcia's legal team also said there was "no real, imminent threat of enforcement of any civil liability against Governor Garcia" at this time. The team argued that unless the Supreme Court rules definitively on reviving the case, any enforcement attempts would be legally premature. The Supreme Court's decision on Dec. 4, 2023, directed the Makati RTC to enforce its Aug. 22, 2012 resolution, which required Garcia to pay HSBC $700,000 in damages, plus 12 percent legal interest from July 17, 2000, and P404,560.50 in legal fees. Garcia had questioned the February 2018 alias writ of execution, claiming it was improperly served and failed to specify the facts and law on which it was based. She also argued that the writ should have been directed to her business, GGC Enterprises. KAISER JAN FUENTES Read The Rest at :