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Oriental Assurance Corporation vs. Court of Appeals 200 SCRA 459

ORIENTAL ASSURANCE CORPORATION, petitioner, vs. COURT OF APPEALS AND PANAMA SAW MILL CO., INC., respondents. Alejandro P. Ruiz, Jr. for petitioner. Federico R. Reyes for private respondent.

G.R. No. 94052 | 1991-08-09

SECOND DIVISION
D E C I S I O N 
 
 
MELENCIO-HERRERA, J.: 
 
An action to recover on a marine insurance policy, issued by petitioner in favor of private respondent, arising from the loss of a shipment of apitong logs from Palawan to Manila. 
 
The facts relevant to the present review disclose that sometime in January 1986, private respondent Panama Sawmill Co., Inc. (Panama) bought, in Palawan, 1,208 pieces of apitong logs, with a total volume of 2,000 cubic meters. It hired Transpacific Towage, Inc., to transport the logs by sea to Manila and insured it against loss for PIM with petitioner Oriental Assurance...