UPDATED ACCOUNT BRIEF

Account ID : EPCI1117000

Borrower : Limkimso Grp.-Intercontinental Blooming Mills Inc.

Latest Known Address : Hernan Cortes St., Mandaue City, Cebu 6014

UPB : P10,260,000.00
Acquisition Target : None
Deed of Assignment : March 15, 2005
Certificate of Eligibility : COE No. BSP050131-00001
Security/Collateral Information : None

Names of Suretyship/CSA: “Attached in the Complaint” (Photocopy/Scanned Copy)

Particular Name Amount Date / Notarized

Mariano T. Limkimso and
Surety Agreement 13,000,000.00 August 5, 1996
Jesus T. Limkimso

Original Document/s:
 Promissory Notes – All signed by: Jesus T. Limkimso.
PN No. Granted Date Maturity Date Amount
TLC#3584 02/27/1998 08/26/1998 2,000,000.00
TLC#3635 05/26/1998 11/23/1998 1,100,000.00
TLC#3618 04/24/1998 10/19/1998 5,000,000.00
TLC-3640 06/09/1998 12/07/1998 1,200,000.00
BDC#24800 05/08/1998 11/04/1998 960,000.00

 Surety Agreement – September 28, 1995  Surety Agreement – May 5, 1992

 Surety Agreement – April 15, 1991

Account Background:
On June 14, 1996, Equitable PCI and Intercontinental Blooming Mills, Inc. entered into a Credit Agreement
whereby the corporation was granted an omnibus credit line of P10,000,000.00 and a Domestic Bills Purchase Line
Agreement of P1,000,000.00.
Subsequently, the corporation availed of the aforesaid Credit Line from the Bank as follows:
PN No. PN Date PN Amount Interest Rate
TLC#3584 02/27/1998 P2,000,000.00 25%
TLC#3635 05/26/1998 P1,100,000.00 22.75%
TLC#3618 04/21/1998 P5,000,000.00 22.75%
TLC#3640 06/09/1998 P1,200,000.00 19.5%
DBC#24800 05/08/1998 P960,000.00 22.75%

To secure the payment of said loans, Mariano & Jesus Limkimso, executed a Surety Agreement with the
Bank binding them to be jointly and severally liable with corporation to bank for the payment of the loans.

The borrower was not able to pay the loans on their due dates. It was provided in the Promissory Notes
that in the event that the loans are not paid at maturity, a penalty charge of 1% per month on the total amount
shall be paid by the borrower. Despite repeated demand, the borrower failed and refused to pay its obligation,
hence, the filing of a collection case against Mariano T. and Jesus T. Limkimso.

Litigation Information:
Case Title: Collection of Sum of Money
Equitable Banking Corporation versus
Intercontinental Blooming Mills, Inc., Mariano and Jesus Limkimso

Case Number and Court: Civil Case No. CEB-23940/ RTC Cebu City Branch 21

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Litigation Background:
June 17, 1999
EBC filed a Complaint in RTC on June 17, 1999 against Intercontinental Blooming Mills, Inc., Mariano and
Jesus Limkimso for the Collection of Sum of Money.
July 26, 1999
A Return of Service of Summons was issued by the RTC Cebu City Branch 21 dated July 26, 1999.
August 23, 1999
An Answer with Counterclaim filed by Defendants through their counsel dated August 23, 1999.
September 20, 1999
A Motion for Partial Judgment on the Pleadings filed by Plaintiff through its counsel dated September 20,
1999.
October 19, 1999
A Pre-Trial Brief filed by Plaintiff through its counsel dated October 19, 1999.
November 16, 1999
A Vigorous Opposition to Motion for Resetting filed by Plaintiff through its counsel dated November 16,
1999.
November 20, 1999
A Motion to Rule filed by Plaintiff through its counsel dated November 20, 1999.
January 7, 2000
A Motion for Judgment on the Pleadings with Respect to Defendants Limkimso filed by Plaintiff through
its counsel dated January 7, 2000.
February 7, 2000
A Comment/ Opposition filed by Defendants through their counsel dated February 7, 2000.
March 10, 2000
An Order was issued dated March 10, 2000 that the Pre-Trial Conference was transferred/reset to May
24, 2000 at 8:30 in the morning.
February 1, 2001
A Notice of Mediation Proceedings was issued by the RTC Cebu City Branch 21 dated February 1, 2001.
May 24, 2002
A Plaintiff’s Formal Offer of Exhibits filed by Plaintiff through its counsel dated May 24, 2002.
June 4, 2002
A Comments/Objections filed by Defendants through their counsel dated June 4, 2002.
August 21, 2002
A Demurrer to Evidence filed by Defendants through their counsel dated August 21, 2002.
August 28, 2002
An Opposition to Demurrer to Evidence filed by Plaintiff through its counsel dated August 28, 2002.
May 29, 2005
A Motion to Substitute Plaintiff with Notice of Entry of Appearance filed by Philippine Investment One
(SPV-AMC), Inc. (PIOne) through its counsel dated May 29, 2005.
February 23, 2006
A Memorandum for the Plaintiff filed by Plaintiff through its counsel dated February 23, 2006.
March 23, 2006
A Motion for Additional period filed by Defendants through their counsel dated March 23, 2006.
December 8, 2006
Decision was issued by the RTC Cebu City Branch 21 in favor of Plaintiff. The judgment was rendered
ordering defendants jointly and severally to pay the plaintiff the sum of P13,077,381.12 plus interest and
penalty charges from April 30, 1999, 20% of said amount as attorney’s fees and P130,000.00 as expenses
of litigation.

Litigation Information:
Case Title: Revival of Judgment
Philippine Investment One (SPV-AMC), Inc. versus
Intercontinental Blooming Mills, Inc. represented by
Mr. Jesus and Mariano T. Limkimso

Case Number and Court: Civil Case No. R-MKT-16-03302-CV/ RTC Makati City Branch 66
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Litigation Background:
December 8, 2016
PIOne filed a Revival of Judgment in RTC Makati City dated December 8, 2016 against Intercontinental
Blooming Mills, Inc., Mariano and Jesus Limkimso.
January 9, 2017
Order of the court dated January 9, 2017 DIRECTING the RTC-OCC of Makati City to release P1,000.00
from the Sheriff Trust Fund to this Court's process server. Upon the acquisition of the same, the process
server is directed to secure postal money order to be transmitted along with the complaint and summons.
May 9, 2017
PI One through Sir Don received personally a Transmittal of Summons dated May 9, 2017.
December 29, 2017
PI One through counsel received an Order of the court dated 29 December 2017 GIVING RTC-OCC
Mandaue City thirty (30) days from receipt to submit a status report anent the service of the summons
dated December 13, 2016.
January 11, 2018
PI One through counsel received a Sheriff’s Return/Report of the court dated January 11, 2018 stating
that the original Summons is UNSERVED, with the prayer that the undersigned be given a definite address
(house number) so that an Alias Summons can effectively be served and for its record and information.
March 22, 2018
PI One through counsel received an Order of the court dated March 22, 2018 DIRECTING plaintiff to
furnished the court a new address to locate and serve summons to defendant within ten (10) days from
receipt hereof. Failure to do so within the said period shall cause the case to be sent to the archives until
the same is ready for trial.
April 19, 2018
PI One through counsel filed a Manifestation with Motion to Re-Serve Summons dated April 19, 2018 and
set hearing on April 27, 2018 at 2:00 pm.
April 27, 2018
PI One through Atty. Che personally received an Order of the court dated April 27, 2018 GRANTING the
Manifestation with Motion to Re-Serve Summons.
September 20, 2018
PI One through counsel received an Order of the court dated September 14, 2018 DIRECTING OCC-RTC
Maguikay Mandaue City to file a status report anent the said service of summons within fifteen (15) days
from receipt hereof.

January 31, 2019

PI One through counsel received an Order of the court dated January 24, 2019 DIRECTING plaintiff to
coordinate with said office and to submit its own status report as to whether or not summons has been
served to the defendant within fifteen (15) days from receipt hereof.

February 15, 2019

PI One through counsel filed a Compliance on the status report indicating that per Sheriff's Return/Report
written by Sheriff Teofilo C. Soon, Jr., defendants International Blooming Mills, Mr. Jesus and Mariano
Limkimso could not be found or located at the given address at Butuanon River, M.C. Briones St.,
Maguikay, Mandaue City.

PI One through counsel filed a Notice of Change of Address.

April 8, 2019
PI One through counsel received court’s Sheriff’s Return/Report dated February 7, 2019.

May 10, 2019

PI One thru Atty. Che filed Ex-Parte Motion for Issuance of Alias Summons dated may 10, 2019.

May 17, 2019

PI One through counsel received court's Order dated May 17, 2019 GRANTING the Ex-Parte Motion,
however, instead of issuing an Alias Summons, this Court will issue another summons reflecting the
correct name of Intercontinental Blooming Mills Inc. to be served at its last known address in Butuanon
River, M.C. Briones St., Maguikay, Mandaue City.

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November 5, 2019
PI One through counsel received court's Officer's Return Report dated October 17, 2019 stating that
Process Server failed to deliver the Summons together with a copy of the Complaint for the reason that
defendant could not be located on the given address.

November 20, 2019

PI One through counsel filed a Motion for Leave to Serve Summons by Publication dated November 18,
2019 and set hearing on November 29, 2019 at 1:30 pm.

November 29, 2019

PI One through counsel personally received Order dated November 29, 2019 GRANTING the Motion for
Leave to Serve Summons by Publication.

January 28, 2020

PI One through counsel received Order dated January 15, 2020 DISMISSING the instant Complaint
pursuant to Section 3, Rule 17 of the Rules of Court considering that no further action was taken by the
plaintiff despite the grant of its motion seeking the service of summons to the defendants through
publication in the Order dated 29 November 2019.

February 3, 2020
PI One through counsel filed Motion for Reconsideration (to the Order dated 15 January 2020) with
Compliance dated February 03, 2020 and set hearing on February 7, 2020 at 1:30 pm.

February 7, 2020
PI One thru counsel personally received Order dated February 7, 2020 GRANTING plaintiff's Motion for
Reconsideration. The Order of the Court dated January 15, 2020 is hereby recalled and set aside.

March 12, 2020

PI One thru counsel filed Motion to Declare Defendants in Default dated March 12, 2020 and set hearing
on March 20, 2020 at 1:30 pm.

June 30, 2020

PI One thru counsel received Order dated June 1, 2020 GIVING defendants non-extendible period of five
(5) calendar days from receipt of this Order to file an opposition to the Motion to Declare Defendants in
Default dated March 12, 2020.

September 18, 2020

PI One thru counsel received Order dated August 18, 2020 GRANTING plaintiff’s Motion to Declare
Defendants in Default. Defendant Intercontinental Blooming Mills, Inc. represented by Jesus Limkimso
and Mariano Limkimso is hereby declared in DEFAULT. Set the reception evidence ex parte by the plaintiff
on October 13, 2020 at 1:30 pm.

October 8, 2020
PI One thru counsel filed a Judicial Affidavit of Lorenzo Abugan II dated October 7, 2020.

October 30, 2020

PI One thru counsel received Order dated October 21, 2020 NOTING the Commissioner’s Report filed by
Atty. John Ivan Tablizo. Exhibits “A” to “G” with submarkings are hereby admitted. The instant case is
hereby submitted for DECISION.

February 17, 2021

PI One received Decision dated 19 January 2021 REVIVING the Decision dated December 8, 2006 of the
RTC of Cebu City, Branch 21 in Civil Case No. CEB-29340. The RTC of Cebu City, Branch 21 is hereby
directed to assist herein plaintiff as to the enforcement of the same.

September 15, 2021

PI One thru counsel filed Omnibus Motion 1.) For Issuance of Certificate of Finality; 2.) For Issuance of
Writ of Execution; 3.) To Deputize Sheriff With Compliance dated September 15, 2021 praying that a
Certificate of Finality and Writ of Execution be ISSUED to implement and satisfy the Decision dated
January 19, 2021.

March 16, 2022

PI One thru counsel received Order dated March 15, 2022 stating that, the Court deems it prudent to hold
in abeyance the resolution of plaintiff’s Omnibus Motion pending its publication of the Decision dated
January 19, 2021 as provided in Section 13, Rules 13 of the Amended Rules of Court.

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March 23, 2022
PI One thru counsel received Order dated March 21, 2022 GRANTING the plaintiff’s Omnibus Motion.
Moreover, the Branch Clerk of Court is likewise directed to issue the appropriate Writ of Execution to
enforce the Decision dated January 19, 2021, and for Sheriff Leodel N. Roxas to implement the same.

Asset Search:
 Per Romeo V. Falcon - Asset Searched - Positive.
 Tax Declaration No. 2006-017-04573 located at Butuan River, M.C. Briones St., Maguikay, Mandaue City a
Residential lot with an area of 3,616 sq.m.
 Tax Declaration No. 2017-017-00339 located at Butuan River, M.C. Briones St., Maguikay, Mandaue City a
Residential lot with an area of 5,934 sq.m.

Status Update:
 Judgment was rendered in favor of the Bank dated December 8, 2006.
 PIOne filed Revival of Judgment dated December 8, 2016 (Ongoing Case).
 PI One through counsel received an Order of the court dated September 14, 2018 DIRECTING OCC-RTC
Maguikay Mandaue City to file a status report anent the said service of summons within fifteen (15) days
from receipt hereof.
 Omnibus Motion was granted
 A Writ of Execution was already issued.

Proposed Action Plan / Progress Report:

1. Coordinate with Sheriff Leodel N. Roxas to execute the writ.

2. Secure certified true copy of TD-2006-017-04573 and TD-2017-017-00339. (Coordinate this property to
Sheriff Leodel.) (EXECUTION DEPT.)

Note: Already coordinated with Sheriff Del, all documents will be covered by him, we are just waiting for
the release of funds. (coordinated by Sherwin and Markus thru phone call)

Rowena Dinoy our conduit in Cebu was able to secure the certified true copy of the TDs.

3. Request for site visit and evaluation of the current value of TD-2006-017-04573 (5,694sqm) and TD-2017-
017-00339 (3,616sqm) in order to establish the actual figure to be deducted in the outstanding obligation.
(AO to Property Appraisal.)

Note: Request for appraisal was filed June 22, 2022. For the mean time we used the market value based
on the TD just for the purpose having valuable consideration until such time the appraisal department
submitted its appraisal report.

4. Evidently, TD-2006-017-04573 and TD-2017-017-00339 cannot cover the entire obligation. Hence,
extensive effort should be done to locate other properties regardless whether personal or real. (Due
Diligence Dept./Asset Search)

5. Regarding due diligence, we are still waiting for an update from Ms. Rowena Dinoy our conduit from Cebu
regarding the cases annotated in the TDs.

__________________ _________________
Updated By: Markus Rico 06-29-2022 Noted By: Loida Cabebe