Newton's Second Law of Motion: An object acted on by a net force will accelerate in the direction of that force. Alberto Reyes In referring to our office as legal counsels of Philippine Investment One, we are now drawn in to respond to the allegations of one Atty.
9182) and its effect on dead-beat borrowers, which appeals to misplaced emotion, rather than reason. In the guise of demonstrating an alleged inequity to the borrower—which the letter does not prove one whit—Atty. The push is the net force and the balls are accelerating in the direction of that force.
Reyes only manages to expose the patent lack of legal reasoning to sustain his client's position.
Reyes only manages to expose the patent lack of legal reasoning to sustain his client's position. Reyes's letter thus amounts to an exercise in rhetoric and innuendo—and nothing much else. Reyes's letter thus amounts to an exercise in rhetoric and innuendo—and nothing much else. The kick would be the net force and the ball would be accelerating in the force's direction.
Reyes does not deny is that his clients owe the Bank of Commerce P73,147,408.83—a debt which the Bank tried to collect but which Atty.
His law explains how the strength of the net force can affect the acceleration and how an object with a larger mass will require more force to accelerate.


Reyes' clients refused to pay, to the point that the Bank had to file a collection case in court. Reyes' clients refused to pay, to the point that the Bank had to file a collection case in court. Reyes acknowledges that, under Section 12 of the SPV Law, the borrower is given the opportunity to restructure and renegotiate the loan with the banks and financial institutions are, and "[i]t is only when no agreement has been reached that the Bank may then sell an NPL [non-performing loan] to the SPV." He makes out the inequity in the fact that bad borrowers cannot negotiate good enough terms with the banks to settle their loan obligations. Thus, making bad borrowers' lack of negotiating skills or failure in negotiations as a proper cause for punishing SPV's. Reyes' account, the banks would rather spurn their bad borrowers' higher offers to pay back their debt in order to sell to SPV's for less than a song. In effect, the banks would rather sell bad debts to SPV's at a whopping loss, than realize greater returns from their bad borrowers.
In effect, the banks would rather sell bad debts to SPV's at a whopping loss, than realize greater returns from their bad borrowers.
Why the banks favor less money than more and act against their self-interest is one big mystery Atty.
Reyes' hypothetical situation does not reflect what is happening in the real world. Reyes' hypothetical situation does not reflect what is happening in the real world.
Of course, he does not inform us how much the debt, the principal or interest of the account, or whether such a purchase forms part of a package of deals. Reyes, citing extreme cases is a completely rational substitute for describing the norm.


Is it now fashionable to trample upon and take advantage of Filipino businessmen who are also victims themselves?" Well, to begin with, Atty.
Such a transaction is what the SPV Law specifically encourages to achieve the law's purpose of clearing the financial system of the billions in bad debt accumulated by financial institutions. He mentions three cases where the lower courts ruled in favor of the buyer and ordered their debts absolved for so long as they pay the SPV's the amount the latter paid to the banks. What these cases really show is an alarming trend for the courts to ignore the SPV Law, which mandates the SPV's to step into the shoes of the banks and financial institutions and collect the full amount owed by the debtor.
For all intents and purposes, court decisions are practically nullifying the SPV Law.
But as important, after having been induced by the SPV Law, SPV's have already invested billions of pesos in buying non-performing loans and assets, and now face the prospect of devastating losses because of these rulings.
Reyes goes out of his way to vilify PI One for borrowing money from the local banking system. But since when has borrowing from the local banking system been a crime or an immoral act? Before the subprime mortgage and financial crisis hit the world stage, easy credit was available throughout the world. Such borrowings earned revenues for the banks, and were good for the banking system.



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