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Eighteen years later, the Court of Appeals has ordered the family of ex-Supreme Court Associate Justice Minita Chico-Nazario to pay what’s owed Luisito Espinosa.
Her husband, Rodolfo Nazario along with South Cotabato Governor Hilario de Pedro III and Joselito Mondejar were the promoters and organizers of the 1997 WBS World Featherweight bout between Luisito Espinosa and Argentine contender Carlos Rios.
The boxer, who defended his World Boxing Council featherweight title in 1997, should be paid a base amount of USD$130,349 plus an interest rate of 12% per annum starting from May 1998, the date of the judicial demand.
The controversy began when Espinosa, along with manager Joe Koizumi filed a complaint on May 26, 1998 against promoters and organizers of the bout.
“Under the contract, De Pedro, Nazario, and Mondejar, as local promoters and organizers of the title fight, were bound to pay Espinosa’s camp the guaranteed purse of US$150,000 and the training expenses of US$10,000,” reports Mark Merueñas on GMANews.com.
It continues: “The contract further stipulated that by the end of Oct. 31, 1997, the respondents agreed to pay the boxer the advance of US$50,000, which is one-third of the purse plus training expenses of US$10,000, totaling to US$60,000.”
Alas, a few days before the fight, Espinosa wasn’t even paid half of the amount. On the day of the fight, the respondents gave a letter of guarantee to Espinosa, promising to pay the balance of US$130, 349 on or before Dec 16, 1997. He won the fight but the promoters failed to cough out of the money.
Espinosa filed a complaint five months after the fight, in May 1998 and a long-ass legal battle ensued. The CA decision, penned by Associate Justice Ramon Cruz, reversed an earlier Regional Trial Court of Manila ruling that dismissed Espinosa’s complaint.
“The CA gave weight to the letter of guarantee submitted by the boxer as proof of the defendants obligation to pay,” notes the GMA report.
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