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Denso (Phil) vs. Intermediate Appellate Court

DENSO (PHILS.), INC., petitioner, vs. THE INTERMEDIATE APPELLATE COURT AND KAYAMANAN DEVELOPMENT CORPORATION, respondents.

G.R. No. 75000 | 1987-02-27

D E C I S I O N


NARVASA, J.:

On June 23, 1984, at about 11 o'clock in the evening, a fire broke out at the Nippondenso Building at Pasong Tamo Ext., Makati, Metro Manila. The building was owned by the Kayamanan Development Corporation (hereafter, simply referred to as KAYAMANAN), and was then under lease to Denso (Phils), Inc. (hereafter, simply DENSO). The fire caused extensive damage. DENSO and its correspondent firm in Japan, NIPPONDENSO, reportedly suffered losses amounting to P6,131,976.65 and P682,212.58, respectively. On the other hand, KAYAMANAN's loss was placed at P1,750,000.00. 1

A year or so later, KAYAMANAN instituted an...