Mondragon Leisure and Resorts Corp. v CA, 460 SCRA 279(2005)
a!ts" Mondragon #nternationa$ %&i$ippines, #n!., Mondragon Se!urities Corporation and an d pe peti titi tion oner er en ente terred in into to a $e $eas ase e ag agrree ee'e 'ent nt i it& t& t& t&e e C$ C$ar ar *e *eve ve$o $op' p'en entt Corporati Corp oration on +or t&e deve$ deve$op'e op'ent nt o+ Mi'o Mi'osa sa Lei Leisur sure e sta state. te. -o &e$p nan!e t&e pro/e!t, pro /e!t, petitioner, petitioner, enter entered ed into an 'ni 'ni1us 1us Loa Loan n and Se!u Se!urit rit Agree'ent Agree'ent it& respondent 1ans +or a sndi!ated ter' $oan in t&e aggregate prin!ipa$ a'ount o+ 3S20M 3S 20M.. 3n 3nder der t& t&e e agr agree' ee'ent ent,, t&e pr pro! o!eed eeds s o+ t&e $oa $oan n er ere e to 1e re re$ea $eased sed t&roug& advan!es eviden!ed 1 pro'issor notes to 1e ee!uted 1 petitioner in +avor o+ ea!& $ender1an, and to 1e paid it&in a siear period +ro' t&e date o+ initia$ advan!e in!$usive o+ a one ear and to uarters gra!e period. %etitioner, &i!& &ad regu$ar$ paid t&e 'ont&$ interests due on t&e pro'issor notes unti$ !to1er 899, t&erea+ter +ai$ed to 'ae pa'ents. Conseuent$, ritten noti!es o+ de+au$t, a!!e$eration o+ pa'ent and de'and $etters ere sent 1 t&e $enders to t&e petitioner. -&en, respondents $ed a !o'p$aint +or t&e +ore!$osure o+ $ease&o$d rig&ts against petitioner. %etitioner 'oved +or t&e dis'issa$ o+ t&e !o'p$aint 1ut as denied den ied.. urt urt&er &er,, pet petiti ition oner er a$s a$so o !on !onten tends ds t&a t&att t&e pr provi ovisio sions ns on de+ de+au au$t $t in t&e 'ni1u 'n i1us s Agr Agree' ee'ent ent &av &ave e 1ee 1een n re rende ndere red d ina inapp pp$i! $i!a1$ a1$e e and une unen+ n+or or!ea !ea1$ 1$e e 1 +ortuitous events, na'e$ t&e Asian e!ono'i! !risis and t&e !$osure o+ t&e Mi'osa Regen! Casino, &i!& as petitioner:s pri'ar sour!e o+ revenues. #ssue;s" 8. <&et&er or not respond respondents ents &ave a !ause !ause o+ a!tion a!tion against against petitioner= petitioner= 2. <&et&er or not its !ontention !ontention regarding regarding +ortuitous event tena1$e= tena1$e= Ru$ing" 8. %ursuan %ursuantt to t&e provisions provisions o+ t&e 'ni1us 'ni1us Agree'en Agree'ent, t, petitioner petitioner 'a 1e va$id$ de!$ared in de+au$t +or +ai$ure to pa t&e interest. As a !onseuen!e o+ de de+a +au$ u$t, t, t& t&e e un unpa paid id a' a'ou ount nt s& s&a$ a$$$ ea earrn de de+a +au$ u$tt in inte terres est, t, an and d t& t&e e respondent1ans &ave +our a$ternative re'edies it&out pre/udi!e to t&e app$i!ation o+ t&e provisions on !o$$atera$s and an ot&er steps or a!tion &i!& & i!& 'a 1e ad adopt opted ed 1 t&e 'a/ 'a/ori orit t $en $ender der.. -& -&e e +ou +ourr re re'ed 'edies ies ar are e alternative, it& t&e rig&t o+ !&oi!e given to t&e $enders, in t&is !ase t&e res espo pond nden ents ts.. 3n 3nde derr Ar Arti ti!$ !$e e 82 8208 08 o+ t& t&e e Ci Civi vi$$ Co Code de,, t& t&e e !& !&oi oi!e !e s& s&a$ a$$$ produ!e no e>e!t e!ept +ro' t&e ti'e it &as 1een !o''uni!ated. #n t&e pres pr esen entt !a !ase se,, r rit itte ten n no noti ti!e !es s e erre se sent nt to t& t&e e pe peti titi tion oner er 1 t& t&e e respondents. -&e noti!es !$ear$ indi!ate respondents: !&oi!e o+ re'ed" to a!!e$erate a$$ pa'ents paa1$e under t&e $oan agree'ent it s&ou$d 1e noted not ed t& t&at at t& t&e e ag agre ree'e e'ent nt a$s a$so o pr provi ovides des t&at t&e !& !&oi! oi!e e o+ re re'ed 'ed is it&out pre/udi!e to t&e a!tion on t&e !o$$atera$s. -&us, respondents respondents !ou$d
proper$ $e an a!tion +or +ore!$osure o+ t&e $ease&o$d rig&ts to o1tain pa'ent +or t&e a'ount de'anded.
2. -&e issue on +ortuitous event is untena1$e. -&e Asian nan!ia$ !risis o+ 8997 is not a'ong t&e +ortuitous events !onte'p$ated under Art 8874 o+ t&e Civi$ Code. -o ee'pt t&e o1$igor +ro' $ia1i$it +or a 1rea!& o+ an o1$igation 1 reason o+ a +ortuitous event, t&e +o$$oing 'ust !on!ur" a. -&e !ause o+ t&e 1rea!& o+ t&e o1$igation 'ust 1e independent o+ t&e i$$ o+ t&e de1tor. 1. -&e event 'ust 1e eit&er un+oreseea1$e or unavoida1$e. !. -&e event 'ust 1e su!& as to render it i'possi1$e +or t&e de1tor to +u$$ &is o1$igation in a nor'a$ 'anner d. -&e de1tor 'ust 1e +ree +ro' an parti!ipation in or aggravation o+ t&e in/ur to t&e !reditor. -&e $oan agree'ent as entered into on ?une @0, 8997 or &en t&e Asian e!ono'i! Crisis &ad a$read started. %etitioner, as a $ong esta1$is&ed !orp. s&ou$d &ave 1een e$$ aare o+ t&e e!ono'i! environ'ent at t&at ti'e, et it sti$$ too t&e ris to epand operations. Lieise, t&e !$osure o+ t&e Mi'osa Regen! Casino as not an un+oreseea1$e or unavoida1$e event, in t&e !ontet o+ t&e !ontra!t o+ $ease 1eteen petitioner and C*C. ver 1usiness venture invo$ves riss. Riss are not un+oreseea1$e and are in&erent in 1usiness.
