The Supreme Court has ordered the heirs of boxing promoter Rodolfo Nazario to pay former world boxing champion Luisito Espinosa the sum of P6.6 million as part of his prize money for winning his title fight with Argentine Carlos Rios in 1997.
This as the SC junked for lack of merit the petition of Nazario’s heirs who sought to reverse the Court of Appeals’ 2017 ruling affirming the boxer’s monetary claim.
Also, the SC ordered the payment of interest of six-percent per annum starting on May 1998, or when the case was filed before the Manila Regional Trial Court (RTC).
“This case has been pending for many years and the court would like to put the whole matter to rest. The scheduled fight pushed through and Espinosa has not been given his prize money too long to be ignored,” the resolution stated.
Espinosa sued Nazario, former South Cotabato Gov. Hilario de Pedro III and Joselito Mondejar, another boxing promoter, for failing to comply with a contract signed on Oct. 16, 1997, for the staging of Espinosa’s World Boxing Council world featherweight title defense against Rios in Koronadal, South Cotobato, on Dec. 6 that same year.