Fort Bonifacio Development Corporation vs Sorongon and Fong.docx - Fort Bonifacio Development Corporation vs Sorongon and Fong GR No 176709 May 8 2009

Fort Bonifacio Development Corporation vs Sorongon and Fong.docx

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Fort Bonifacio Development Corporation vs Sorongon and Fong GR No. 176709, May 8, 2009 FACTS: Petitioner Fort Bonifacio Development Corporation entered into a trade contract with L & M Maxco Specialist Construction’s wherein Maxco would undertake the structural and partialarchitectural package of the Bonifacio Ridge Condominium Phase1 (BRCP Later, petitioner accused Maxco of delay in completion of its work and sent the latter a notice of termination. Subsequently, Maxco was sued by its creditors including respondent for debts unrelated to BRCP 1. In order to settle the collection suit, Maxco assigned its receivables representing its retention money from the BRCP 1 in the amount of P1, 577,115.90. Respondent Valentin Fong informed petitioner regarding Maxco’s assignment in his favor and asked to confirm the validity of Maxco’s receivables. Petitioner informed respondent Fong that there is no more amount due to Maxco from petitioner after the rectification of defect as well.
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