Judge Rebecca R. Mariano of RTC branch 156 said Coyiuto and his fellow defendants "acted with malice" in the publication of a series of derogatory and defamatory articles against Yuchengco in The Manila Chronicle during the months of November and December 1993.
The judgment cited three causes of action. On the first cause of action, it ordered defendants Manila Chronicle Publishing Corp. et al to pay the plaintiff P10 million as moral damages and P10 million as exemplary damages. The defendants include Neal Cruz, Ernesto Tolentino, Noel Cabrera, Thelma San Juan, Gerry Zaragoza, Donna Gatdula, Raul Valino and Rodney Diola, all Chronicle staff members at the time.
On the second cause of action, the court ordered defendants Coyiuto and Chronicle Publishing Corp. to pay P50 million in moral damages and P30 million in exemplary damages.
On the third cause of action, the court ordered all defendants to pay Yuchengco, jointly and severally, P1 million for attorney’s fees and legal costs.
The court said all the defendants "acted with malice" in the publication of articles which accused the plaintiff of being a "Marcos-Romualdez crony" and a "corporate raider" among other things in an effort to discredit him before the stockholders of Oriental Petroleum.