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Malayan Insurance Co., Inc. vs Philippine Nails And Wires Corporation

MALAYAN INSURANCE CO., INC., petitioner, vs. PHILIPPINE NAILS AND WIRES CORPORATION, respondent.

G.R. No. 138084 | 2002-04-10

D E C I S I O N

QUISUMBING, J.:

This petition for review seeks the reversal of the decision dated September 30, 1998, of the Court of Appeals in CA-G.R. CV No. 45547, affirming the decision dated December 10, 1993, of the Regional Trial Court of Pasig, Metro Manila, Branch 163, and the resolution dated March 25, 1999, of the Court of Appeals denying the petitioner's motion for reconsideration.[1]

Respondent Philippine Nails and Wires Corporation insured against all risks its shipment of 10,053.400 metric tons of steel billets valued at P67,156,300 with petitioner Malayan Insurance Company Inc. The shipment delivered was short by 377.168...