Republic of the Philippines

RTC of Manila
Branch 1
Sterling Bank of Asia Inc.

Civil Case: for Sum of money with

damages and Attorneys fees and
prayer for Writ of Preliminary
Attachment

vs

Arsenio Locsin and Maria Lucia Locsin aka Lucille Jacinto Carlos

Judciail Affidavit of
Laarni O. Obtinario
This judicial Affidavit of Laarni O. Obtinatio is executed to serve as her direct
testimony in the instant case. This judicial affidavit is offered to prove; 1. All the
allegations in the complaint; 2. including all the annexes appended thereto, which
she respectfully requests to be correspondingly marked as exhibits in this case 3. all
matters related thereto, with reservation to present additional exhibits in the course
of the proceedings of the instant case.
1. Please state you name, age, your occupation and your office address
Ans: My name is Laarni Obtinario, of legal age, I am an Account Officer of
Sterling Bank of Asia, with office address at the Ground floor, Sterling Bank of
Asia Corporate Center, Ortigas Avenue Greenhills San Juan City.
2. How are you related to the petitioner in this case?
Ans: I am the Attorney in Fact of the Chief Executive Officer of Sterling Bank
Asia.
3. Im Showing you this document (Special Power of Attorney) which we request
to be marked as our Annex I, what is the relation of this document in your
capacity as an Attorney in Fact of the Banks Chief Executive Officer?
Ans. That was the document executed by our Chief Executive Officer that
granted me the right to institute this case.
4. Is the Banks Chief Executive Officer authorized by its Board of Directors to
initiate this case?
Ans. Yes, there was a Board Resolution approved for that purpose
5. Im showing you this document (Secretarys Certificate) which we request to
be marked as Annex H, is this the document that granted your Chief
Executive Officer the right to institute this case?
Ans: Yes, that was document prepared for that purpose.

6. How are you related to the defendants in this case?

Ans: as an Account Officer of the Bank, I handled the account of the
defendants Arsenio Locsin and Ma. Lucia Locsin (collectively spouses Locsin)
7. How did they start to do business with the bank?
Sometime in June 2008, Spouses Locsin, through Arsenio Locsin applied for
and were granted by the Bank, a Promissory Note Lineworth P650,000 to
finance their personal and working capital requirements. The line was
secured by the pledge of one share of stock of The Country Club Inc.
8. Im showing you this document (Deed of Assignment) we requested to be
marked as Annex A, is this the document that the defendants executed in
order for them to pledge the shares of stock you mentioned?
Ans: Yes, that was the document duly signed by Arsenio Locsin
9. Did they avail the credit line prior to its expiration?
Ans: Yes, for values received, Spouses Locsin, through Arsenio Locsin,
executed and delivered a Promissory note to the Bank on 5 July 2010,
promising to pay the latter the principal sum of P624,320 on October 1 2010.
10.Im showing you this document (Promissory Note) which we request to be
marked as Annex B, is this the document executed by the defendants through
Arsenio Locsin?
Ans: Yes, that was the document executed by him when he received the
money.
11.Were they able to pay their obligation on time?
Ans: No, beginning Sept 1 2010 spouses Locsin stopped paying their
obligations under the Promissory note. Thus the bank made several demands
letters for its payment.
12. Did they receive such demand letters?
Ans: Yes, Mr Locsin himself personally received a letter dated November 4
2010 after our scheduled meeting.
13.Im showing you this document (Demand Letter Dated November 4, 2010),
which we request to be marked as Annex C, is this the demand letter that Mr
Locsin personally received?
Ans: Yes, he signed it in front of me.
14.How about the other demand letters?
Ans. The final demand letter we sent through our messenger was returned
due to the fact that Spouses Locsin already moved out from their previous
address and did not leave any forwarding address.
15.Were they able to heed to such demands?
Ans. To date, Spouses Locsin have not gotten in touch with the Bank, either
to make arrangements for payment or even just to inform the latter to their
new home address. Moreover, while we have been continuously trying to get
in touch with them to enforce collection, they have persistently refused to
take our calls.

Laarni C. Obtinario
Affiant